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Pair: GBPJPY
Timeframe: 1 Hour (1H)
Bias: Bearish (Sell Setup)
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Technical Analysis:
1. Price Structure & Market Context:
• The chart shows a clear downtrend from the previous swing high near 196.000.
• Price has since formed a lower high within the red supply zone, reinforcing bearish pressure.
• Several liquidity grabs and rejections are visible near the red supply zone, indicating sellers are defending this level aggressively.
2. Key Zones & Levels:
• Supply Zone (Red Area): 193.243–193.594 — significant selling pressure observed.
• Buyers Above Zone: Price has failed to sustain above 193.243 despite attempts, confirming bearish strength.
• Break of Structure (BOS): At 192.824, confirming bearish momentum.
• Support Zones (Green Areas):
• First target area: 192.307
• Second target area: 191.272 — potential extended target if momentum continues downward.
3. Entry & Confirmation:
• Current Price: 193.168
• Price is rejecting the supply zone and failing to break above the 193.243 resistance line.
• Confirmation of sell setup comes from:
• Bearish rejections at supply
• Price forming a lower high (193.100 HL level)
• BOS and retest pattern playing out
4. Trade Plan (Sell Idea):
• Sell Entry: Between 193.150–193.243 (rejection zone)
• Stop Loss: Above 193.594 (invalidate the supply zone rejection)
• Take Profit 1 (TP1): 192.307
• Take Profit 2 (TP2): 191.272 (extended target)
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Confluence Factors:
• Price is respecting supply zone.
• Repeated bearish rejections and liquidity sweeps above key levels.
• BOS supports shift in structure to bearish.
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Conclusion:
GBPJPY is showing strong signs of bearish control, with multiple rejections from the supply zone and a BOS indicating momentum shift. A sell from the current levels offers a good risk-to-reward setup, targeting the support zones below.
Pair: GBPJPY
Timeframe: 1 Hour (1H)
Bias: Bearish (Sell Setup)
⸻
Technical Analysis:
1. Price Structure & Market Context:
• The chart shows a clear downtrend from the previous swing high near 196.000.
• Price has since formed a lower high within the red supply zone, reinforcing bearish pressure.
• Several liquidity grabs and rejections are visible near the red supply zone, indicating sellers are defending this level aggressively.
2. Key Zones & Levels:
• Supply Zone (Red Area): 193.243–193.594 — significant selling pressure observed.
• Buyers Above Zone: Price has failed to sustain above 193.243 despite attempts, confirming bearish strength.
• Break of Structure (BOS): At 192.824, confirming bearish momentum.
• Support Zones (Green Areas):
• First target area: 192.307
• Second target area: 191.272 — potential extended target if momentum continues downward.
3. Entry & Confirmation:
• Current Price: 193.168
• Price is rejecting the supply zone and failing to break above the 193.243 resistance line.
• Confirmation of sell setup comes from:
• Bearish rejections at supply
• Price forming a lower high (193.100 HL level)
• BOS and retest pattern playing out
4. Trade Plan (Sell Idea):
• Sell Entry: Between 193.150–193.243 (rejection zone)
• Stop Loss: Above 193.594 (invalidate the supply zone rejection)
• Take Profit 1 (TP1): 192.307
• Take Profit 2 (TP2): 191.272 (extended target)
⸻
Confluence Factors:
• Price is respecting supply zone.
• Repeated bearish rejections and liquidity sweeps above key levels.
• BOS supports shift in structure to bearish.
⸻
Conclusion:
GBPJPY is showing strong signs of bearish control, with multiple rejections from the supply zone and a BOS indicating momentum shift. A sell from the current levels offers a good risk-to-reward setup, targeting the support zones below.
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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.
Telegram Trading Channel - t.me/DBFXTraderChannel
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.