GBP/JPY Bearish Reversal from Key Resistance Zone

6月13日

Technical analysis for GBP/JPY (1H timeframe):


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GBP/JPY Analysis – Bearish Setup Below Strong Resistance

🔍 Overview:

The pair has rejected the key resistance zone near 196.500 multiple times, forming a triple top pattern—a classic bearish reversal signal.

Each rejection is marked by a red arrow, emphasizing the strength of this resistance.


📉 Price Action & Structure:

After the third rejection, price is now forming lower highs, suggesting weakening bullish momentum.

The projected path indicates a bearish breakdown targeting the support level near 193.350, which has acted as a key demand zone in the past.


📊 Technical Indicators:

50 EMA (Red) is slightly curving down and crossing below the 200 EMA (Blue), indicating a possible shift to bearish momentum.

RSI (14) is around 52.69—neutral but with room to drop further into bearish territory (<50).


🎯 Target & Risk Outlook:

Target Zone: 193.354

Potential Drop: ~296 pips (-1.51%)

If the price confirms resistance again and fails to reclaim 196.500, short setups are favored.




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6月15日

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