GBP/JPY Analysis on the 15-Minute Chart
This chart highlights a potential bullish setup on the GBP/JPY pair based on key FTR levels and market structure:
Upper FTR Levels:
The red shaded areas near the 197.00 level represent significant upper FTR zones, where the price previously failed to maintain upward movement, leading to reversals. These levels act as key resistance zones to watch.
Lower FTR Levels:
The blue shaded areas around 194.50 mark strong lower FTR zones, where prior price action reversed sharply upward, indicating key support areas.
Trade Setup:
A buy position is active with the entry near 195.733.
The green zone represents the take-profit target, located near the upper FTR level around 197.00.
The red zone shows the stop-loss, placed below the lower FTR level at 195.20 for risk management.
Current Market Context:
The price has rebounded from the lower FTR zone around 194.50 and is now consolidating above the entry point at 195.733.
A continuation toward the upper FTR level is anticipated if bullish momentum persists.
Upper FTR Levels:
The red shaded areas near the 197.00 level represent significant upper FTR zones, where the price previously failed to maintain upward movement, leading to reversals. These levels act as key resistance zones to watch.
Lower FTR Levels:
The blue shaded areas around 194.50 mark strong lower FTR zones, where prior price action reversed sharply upward, indicating key support areas.
Trade Setup:
A buy position is active with the entry near 195.733.
The green zone represents the take-profit target, located near the upper FTR level around 197.00.
The red zone shows the stop-loss, placed below the lower FTR level at 195.20 for risk management.
Current Market Context:
The price has rebounded from the lower FTR zone around 194.50 and is now consolidating above the entry point at 195.733.
A continuation toward the upper FTR level is anticipated if bullish momentum persists.
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