GBP/JPY (British Pound vs. Japanese Yen) on a 1-hour timeframe.

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GBP/JPY (British Pound vs. Japanese Yen) on a 1-hour timeframe.



Key elements in the chart:

• Entry Zone: A highlighted area around 189.142 - 189.573, indicating a potential sell entry.

• Target Area: A green triangle pointing towards 188.103 - 187.507, suggesting a possible price drop.

• Current Price Level: 189.037 at the time of the screenshot.



Interpretation:



The setup suggests a short trade (sell position) from the entry zone, with expectations of price declining towards the target area around 188.103 - 187.507. This could be a resistance rejection trade, where price is expected to reverse from the resistance level.

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