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GBP/JPY Mini

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GBPJPY.100.CSM trade ideas

GBPJPY ANALYSIS IS READY TO DOWN MUST READ THE CAPTION BELOW The chart provided shows the GBP/JPY (British Pound/Japanese Yen) trading pair on a 4-hour timeframe. Here’s the description and analysis based on the visual elements of the chart: 1. Resistance Level: The red horizontal line around 199.522 indicates a strong resistance level. Price has attempted to break this level multiple times but failed, signaling a potential reversal area. 2. Support Levels: The yellow horizontal lines at 193.975 and 191.522 are key support levels where the price may potentially bounce back after a downtrend. 3. Target Zone: The blue-shaded area labeled Target Zone near 191.522 shows a predicted potential price target for the next bearish movement. 4. Cup and Handle Pattern: A cup-shaped formation is visible on the chart, suggesting a bullish pattern, but the subsequent handle appears to indicate potential bearish consolidation or a rejection at the resistance. 5. Bearish Reversal Expectations: The white arrows indicate anticipated bearish moves from the resistance zone (199.522) toward the support levels and eventually into the target zone. 6. Trend Lines: Blue diagonal trendlines show the earlier bullish trend, but the formation of red arrows hints at a possible trend reversal into bearish territory. Summary: The GBP/JPY pair is currently testing the resistance at 199.522. If it fails to break this level, a downward movement is likely toward the support levels 193.975 and 191.522, with a bearish target around the 191.522 zone. Traders should watch for rejection at resistance and confirm bearish momentum before entering a sell position.
Short
by Mr_Ethan1
GBPJPY is Holding above the Support , All Eyes on BuyingHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000