GBPJPY

There appears to be no reason to refrain from pursuing a short position, assuming the price action aligns accordingly. This scenario has the potential to evolve into a substantial range. At the very least, I anticipate considerable resistance in this area, and that is without even considering the bearish pressure on the monthly candle.

If the price breaks through and closes above this zone, it opens us up for the 213.50 area.

Please consider the timeframe