GBP/JPY Analysis - Rebound Strategy
We're currently seeing a potential rebound setup on the GBP/JPY pair with key levels to watch:
1️⃣ Short-term resistance around 194.800: After a significant upward movement, the price seems to face resistance here. A retracement to the support zone could be expected.
2️⃣ Support around 194.250: If a pullback occurs, this area could serve as a strong entry point for a bullish rebound, supported by the ascending trendline.
3️⃣ Potential targets: If the support holds, we may see a gradual rise toward resistance levels at 194.800 and 195.122.
📈 Bullish scenario: If the support holds, we could aim for higher levels as mentioned above.
🔻 Watch out for sellers: If the support breaks, we might see a decline toward the lower zone near 193.744.
1️⃣ Short-term resistance around 194.800: After a significant upward movement, the price seems to face resistance here. A retracement to the support zone could be expected.
2️⃣ Support around 194.250: If a pullback occurs, this area could serve as a strong entry point for a bullish rebound, supported by the ascending trendline.
3️⃣ Potential targets: If the support holds, we may see a gradual rise toward resistance levels at 194.800 and 195.122.
📈 Bullish scenario: If the support holds, we could aim for higher levels as mentioned above.
🔻 Watch out for sellers: If the support breaks, we might see a decline toward the lower zone near 193.744.
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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.