GBPJPY/ LOOKS LIKE BEARISH
The market is currently in a clear downtrend, with price action showing lower highs and lower lows. The resistance level around 194.62 has previously rejected bullish attempts, reinforcing the bearish momentum. At the moment, price is testing the support zone near 190.63. If this level fails to hold, further downside movement is expected, targeting 188.94, followed by 187.89 and potentially 186.96.
On the other hand, if price stabilizes above 192.31, a potential reversal towards the upside could occur, leading to a move toward 194.62. However, given the overall bearish trend, a breakout with a confirmed higher low would be necessary to establish a shift in market direction. The recent breakdown from the flat zone suggests continued bearish pressure unless buyers step in with significant momentum.
Tendency Keys: 129.31
Resistance Line: 129.31, 194.623
Support Line: 190.63, 188.94, 187.895
On the other hand, if price stabilizes above 192.31, a potential reversal towards the upside could occur, leading to a move toward 194.62. However, given the overall bearish trend, a breakout with a confirmed higher low would be necessary to establish a shift in market direction. The recent breakdown from the flat zone suggests continued bearish pressure unless buyers step in with significant momentum.
Tendency Keys: 129.31
Resistance Line: 129.31, 194.623
Support Line: 190.63, 188.94, 187.895
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.