GBP/JPY Short Trade Setup – Bearish Reversal Potential

This chart represents a GBP/JPY (British Pound to Japanese Yen) 1-hour timeframe trade setup with a clear short (sell) position strategy. Here's a breakdown:

Key Levels:
Entry Point: 📍 192.894 (near current price 192.771)
Stop Loss: ❌ 193.542 (above entry, marking a point where the trade will be exited if it moves against expectations)
Take Profit Targets:
TP1: 🎯 192.258
TP2: 🎯 191.688
Final Target: 🎯 190.755
Trade Strategy:
The trader is anticipating a downward movement in GBP/JPY from the entry zone.
Stop loss is placed above recent highs, ensuring risk management.
Take profit levels are structured to secure partial profits as the price moves down.
Market Context:
Current Price: 🟡 192.771 (slightly below entry)
If price rejects from the entry zone (192.894) and starts moving down, the trade could play out successfully.
A break above 193.542 would invalidate this trade, suggesting further bullish momentum.
Conclusion:
📉 Bearish Bias – Expecting a drop in GBP/JPY price
🎯 Risk-Reward Setup Looks Favorable
⚠️ Watch for Rejections at Entry Zone & Market Trends