GBP/JPY 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE
This GBP/JPY 1-hour chart presents a bullish trade setup, suggesting an upward move. Here's the analysis:
Key Observations:
1. Support Zone: Price has bounced from a strong support level near 188.432 - 189.081, indicating potential buying interest.
2. Bullish Projection: The black arrow suggests an expected rise toward the 191.041 - 191.086 resistance zone.
3. Risk-Reward Setup:
Entry: Near 189.110
Take Profit (TP): Around 191.086
Stop Loss (SL): Below 188.432, ensuring risk management.
4. Market Structure: A higher low formation suggests a shift to bullish momentum.
Trade Idea:
A long (buy) position is expected to reach 191.086, provided price holds above support. A break below 188.432 may invalidate this setup.
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Key Observations:
1. Support Zone: Price has bounced from a strong support level near 188.432 - 189.081, indicating potential buying interest.
2. Bullish Projection: The black arrow suggests an expected rise toward the 191.041 - 191.086 resistance zone.
3. Risk-Reward Setup:
Entry: Near 189.110
Take Profit (TP): Around 191.086
Stop Loss (SL): Below 188.432, ensuring risk management.
4. Market Structure: A higher low formation suggests a shift to bullish momentum.
Trade Idea:
A long (buy) position is expected to reach 191.086, provided price holds above support. A break below 188.432 may invalidate this setup.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.