GBPJPY at Key Resistance Level: Will it Drop To 192.000?

Mar 17

GBPJPY is currently trading at a key resistance zone, where sellers may regain control. This level has been a strong area of interest in the past, suggesting the potential for another bearish reaction if sellers step in.

If the price confirms rejection from this zone, a move lower toward 192.000 is likely. However, a strong breakout above could invalidate this setup, shifting momentum back to the bulls.

Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, long upper wicks rejecting the resistance, or increased selling volume before considering short positions.

Let me know your thoughts or any additional insights you might have!

Mar 18

Trade active

Mar 21

Trade closed: target reached

Take Profit Reached