GBP/JPY) bullish trend analysis Read The ChaptianSMC trading point update
Technical analysis setup for the GBP/JPY pair on a 4-hour timeframe. Here's the breakdown of the trading idea:
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Key Concepts Highlighted:
1. Support Trend Level (Yellow Zone):
The yellow zone marks a strong confluence area:
Horizontal support from previous price reactions.
Trendline support that has held multiple times.
Close to the 200 EMA (at 191.833), which acts as dynamic support.
2. Bullish Reversal Pattern:
The chart shows a rounded bottom/cup-like structure forming at support—often a sign of accumulation before a reversal.
Price is expected to bounce from this support zone and move higher within the ascending channel.
3. Target Point Projection:
The projected move is around 515.8 pips, targeting the 197.949 level.
This target aligns with the upper boundary of the ascending trend channel.
4. RSI (Relative Strength Index):
RSI is around 43–44, near oversold territory, suggesting potential bullish momentum if a bounce occurs.
Mr SMC Trading point
Conclusion:
This setup suggests a potential long (buy) opportunity:
Entry near the 193.0–193.5 zone (support/trendline confluence).
Stop loss likely below the 200 EMA (~191.5 area).
Target arounSMC trading point update
Technical analysis setup for the GBP/JPY pair on a 4-hour timeframe. Here's the breakdown of the trading idea:
---
Key Concepts Highlighted:
1. Support Trend Level (Yellow Zone):
The yellow zone marks a strong confluence area:
Horizontal support from previous price reactions.
Trendline support that has held multiple times.
Close to the 200 EMA (at 191.833), which acts as dynamic support.
2. Bullish Reversal Pattern:
The chart shows a rounded bottom/cup-like structure forming at support—often a sign of accumulation before a reversal.
Price is expected to bounce from this support zone and move higher within the ascending channel.
3. Target Point Projection:
The projected move is around 515.8 pips, targeting the 197.949 level.
This target aligns with the upper boundary of the ascending trend channel.
4. RSI (Relative Strength Index):
RSI is around 43–44, near oversold territory, suggesting potential bullish momentum if a bounce occurs.
Mr SMC Trading point
Conclusion:
This setup suggests a potential long (buy) opportunity:
Entry near the 193.0–193.5 zone (support/trendline confluence).
Stop loss likely below the 200 EMA (~191.5 area).
Target around 197.95, offering a good risk/reward ratio.
The idea is based on trend continuation, a bounce from confluence support, and RSI support for bullish reversal.
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