GBP/JPY Analysis - Rebound Strategy

We're currently seeing a potential rebound setup on the GBP/JPY pair with key levels to watch:

1️⃣ Short-term resistance around 194.800: After a significant upward movement, the price seems to face resistance here. A retracement to the support zone could be expected.

2️⃣ Support around 194.250: If a pullback occurs, this area could serve as a strong entry point for a bullish rebound, supported by the ascending trendline.

3️⃣ Potential targets: If the support holds, we may see a gradual rise toward resistance levels at 194.800 and 195.122.

📈 Bullish scenario: If the support holds, we could aim for higher levels as mentioned above.

🔻 Watch out for sellers: If the support breaks, we might see a decline toward the lower zone near 193.744.