GBP/JPY (British Pound / Japanese Yen) 30-minute chart ,

GBP/JPY (British Pound / Japanese Yen) 30-minute chart . The chart shows key support and resistance levels, along with a projected bearish scenario.



Analysis:

1. Resistance Levels:

• 192.691 is acting as a resistance level, where the price has struggled to break higher.

2. Support Levels:

• 191.787 and 191.601 are intermediate support zones.

• 190.905 - 190.500 (highlighted in red) is a potential demand zone where price might react.

• The next major support is 190.140.



Bearish Outlook:

• The chart suggests a possible lower high formation, indicating weakness in price action.

• If the price fails to sustain above 192.389, it could break lower towards the 191.787 - 191.601 support area.

• A further breakdown could push GBP/JPY into the 190.905 - 190.500 demand zone.



This setup is likely based on price action analysis and support/resistance trading strategy. Let me know if you need further insights!