GBPJPY recently broke out of a descending trendline and resistance zone, fueling a strong bullish move past 193. With momentum slowing, price is now pulling back — setting up a textbook retest opportunity.
Key Zones:
Breakout Support / Demand Zone: 190.500–191.150
Price to Watch: 191.147 — potential retest and bounce zone
Next Target: 194.500–195.000 supply area
Scenarios in Focus:
1. Bullish Retest: A clean bounce from the 190.5–191.1 demand zone could trigger a strong continuation toward 195.
2. Deeper Pullback: A break below 190.5 would invalidate the bullish structure in the short term.
Volume profile shows heavy accumulation below, adding confluence to the support. Patience is key — wait for bullish confirmation around 191.
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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.