GBP/JPY – Bullish structure forming. Waiting for confirmation
GBP/JPY – 15 min chart
After a prolonged corrective move, price action is beginning to show signs of structural recovery. We’re now seeing a shift in momentum as higher lows start to form, suggesting potential for a bullish continuation.
The market is currently stabilizing above a local support zone, following a strong bullish impulse. Should price pull back slightly — especially around the 193.500 area — and hold, it may provide a springboard for a move toward the next key resistance near 195.500.
This area stands out not only as a previous structural level but also as a likely liquidity pocket. A clean break above could open the path toward the 196.750 region, aligning with higher timeframe levels (weekly/monthly).
After a prolonged corrective move, price action is beginning to show signs of structural recovery. We’re now seeing a shift in momentum as higher lows start to form, suggesting potential for a bullish continuation.
The market is currently stabilizing above a local support zone, following a strong bullish impulse. Should price pull back slightly — especially around the 193.500 area — and hold, it may provide a springboard for a move toward the next key resistance near 195.500.
This area stands out not only as a previous structural level but also as a likely liquidity pocket. A clean break above could open the path toward the 196.750 region, aligning with higher timeframe levels (weekly/monthly).
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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.