GBPJPY has been showing signs of weakness after failing to sustain above the 200.200 resistance zone. On the 4H chart, price has been making lower highs while struggling to stay above the 199.000 psychological level, indicating that the bears are slowly taking over momentum.
Currently, price is trading around 198.350, right at a crucial support area. A clean break and close below 198.000 could open the doors for further downside towards 196.500 – 195.800 zone.
🔹 Zig Zag Indicator confirms the recent shift in structure with a visible descending trendline.
🔹 RSI (14) is hovering around the 40–45 zone, suggesting weakening bullish momentum and room for more bearish pressure.
🔹 Key support sits at 198.000, while immediate resistance remains at 199.500 – 200.200.
📊 Trading Plan
Bearish Bias: Below 198.000, targets at 196.500 / 195.800.
🔻 Break below 198.000 → Targets 196.500 – 195.800
🔼 Only above 200.200 → Bulls may regain strength toward 202.000
Risk management is key! ⚠️
Bullish Scenario: Only a strong breakout above 200.200 with volume can re-ignite bullish momentum towards 202.000+.
⚠️ Always manage risk and watch out for volatility around GBP and JPY economic events.
Currently, price is trading around 198.350, right at a crucial support area. A clean break and close below 198.000 could open the doors for further downside towards 196.500 – 195.800 zone.
🔹 Zig Zag Indicator confirms the recent shift in structure with a visible descending trendline.
🔹 RSI (14) is hovering around the 40–45 zone, suggesting weakening bullish momentum and room for more bearish pressure.
🔹 Key support sits at 198.000, while immediate resistance remains at 199.500 – 200.200.
📊 Trading Plan
Bearish Bias: Below 198.000, targets at 196.500 / 195.800.
🔻 Break below 198.000 → Targets 196.500 – 195.800
🔼 Only above 200.200 → Bulls may regain strength toward 202.000
Risk management is key! ⚠️
Bullish Scenario: Only a strong breakout above 200.200 with volume can re-ignite bullish momentum towards 202.000+.
⚠️ Always manage risk and watch out for volatility around GBP and JPY economic events.
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.
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.