Technical analysis for GBP/JPY (1H timeframe):
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GBP/JPY Analysis – Bearish Setup Below Strong Resistance
🔍 Overview:
The pair has rejected the key resistance zone near 196.500 multiple times, forming a triple top pattern—a classic bearish reversal signal.
Each rejection is marked by a red arrow, emphasizing the strength of this resistance.
📉 Price Action & Structure:
After the third rejection, price is now forming lower highs, suggesting weakening bullish momentum.
The projected path indicates a bearish breakdown targeting the support level near 193.350, which has acted as a key demand zone in the past.
📊 Technical Indicators:
50 EMA (Red) is slightly curving down and crossing below the 200 EMA (Blue), indicating a possible shift to bearish momentum.
RSI (14) is around 52.69—neutral but with room to drop further into bearish territory (<50).
🎯 Target & Risk Outlook:
Target Zone: 193.354
Potential Drop: ~296 pips (-1.51%)
If the price confirms resistance again and fails to reclaim 196.500, short setups are favored.
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GBP/JPY Analysis – Bearish Setup Below Strong Resistance
🔍 Overview:
The pair has rejected the key resistance zone near 196.500 multiple times, forming a triple top pattern—a classic bearish reversal signal.
Each rejection is marked by a red arrow, emphasizing the strength of this resistance.
📉 Price Action & Structure:
After the third rejection, price is now forming lower highs, suggesting weakening bullish momentum.
The projected path indicates a bearish breakdown targeting the support level near 193.350, which has acted as a key demand zone in the past.
📊 Technical Indicators:
50 EMA (Red) is slightly curving down and crossing below the 200 EMA (Blue), indicating a possible shift to bearish momentum.
RSI (14) is around 52.69—neutral but with room to drop further into bearish territory (<50).
🎯 Target & Risk Outlook:
Target Zone: 193.354
Potential Drop: ~296 pips (-1.51%)
If the price confirms resistance again and fails to reclaim 196.500, short setups are favored.
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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.