GBP/JPY – Barish setup Channel Breakdown Key? Support levels

GBPJPY has been riding a strong ascending channel but the recent structure is flashing warning signs for buyers

Key Technical Highlights
Channel Breakdown The pair has broken below the lower trend-line of the ascending channel suggesting weakening bullish momentum.
Bearish Retest Likely Price is currently hovering near the 191.145–191.700 region which may act as a new resistance if bulls fail to reclaim the channel
Confluence Zones The 190.352 zone could serve as a trigger level — a clean break below opens the path toward the next support levels at 189.300 and 187.500

Bearish Bias Building – Two Scenarios to Watch
1. Retest & Drop Price retests the broken trend-line and fails to break above it — this confirms bearish control and a high-probability short setup toward 189.294 and beyond
2. Direct Breakdown A sharper sell-off from current levels without a significant retest signals strong bearish momentum and potential for a deeper fall toward 187.479

Resistance 191.600 / 191.700
Support 190.400 → 189.300 → 187.500

Conclusion The market is at a decision point. Watch for price behavior around the trend-line and key levels. If bearish momentum confirms, sellers could dominate the next sessions

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