DeGRAM | GBPJPY reached the resistance for the third time

📊 Technical Analysis
● Price stalled in the 195.5-196.0 red resistance zone and printed a bearish engulfing (labelled “bearish take-over”) after repeatedly failing at the channel roof; the pattern completes a rising-wedge false break.
● Candle has slipped back under the mid-support band 194.0-194.3 and the wedge base; sustained trade below it opens a drop toward 193.50 (prior swing shelf) then 191.80 within the broader channel.

💡 Fundamental Analysis
● After May’s weak UK GDP outlook and dovish Bailey remarks, gilts out-performed JGBs for a second week, trimming the yield premium, while risk-off flows ahead of the BoJ meeting add yen demand.

✨ Summary
Short ≤195.5; break beneath 194.0 targets 193.5 → 191.8, stretch 190.4. Short view void on a 4 h close above 196.0.

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