The pair remains in a strong downtrend, as evidenced by the consistent movement below all major moving averages and the formation of lower highs and lower lows. This suggests that sellers are in full control of the market.
Key Technical Indicators:
- Moving Averages (MA):
The price is trading below the 50, 100, and 200-period EMAs, confirming the bearish momentum and trend continuation bias. - MACD Indicator:
The MACD histogram remains in the negative zone, and although we see some narrowing, there is no clear bullish crossover yet, which indicates momentum is still favoring the bears. - Stochastic Oscillator:
The Stochastic has moved slightly up from oversold levels, but is still below the 50 level, suggesting a possible minor correction or consolidation before a potential continuation to the downside.
Key Support and Resistance Levels:
- Resistance Levels:
- 187.62
- 186.86
- 186.36
- Support Levels:
- 186.26 (Current price area)
- 185.54
- 184.61
Trading Strategy Suggestion:
- Sell on Retracements:
Consider short positions if price pulls back toward the 186.86 – 187.62 zone with bearish confirmation signals (e.g., bearish engulfing or rejection candles). - Breakout Trading:
A confirmed break below 185.54 could accelerate bearish momentum. - Caution for Buyers:
No buying opportunities unless price reclaims the 187.60 area and breaks above the downward trendline with strong momentum.
Trading strategies based on Buy/Sell levels
| GBPJPY | In case of buying | in case of selling |
| Entry point | 186.864 | 185.547 |
| Target Point 1 (TP1) | First resistance: 187.672 | First support: 184.612 |
| Target Point 2 (TP2) | Second resistance: 188.20 | Second support: 148.00 |
| Stop Loss (SL) | 185.547 | 186.864 |
The GBPJPY pair continues to exhibit clear bearish characteristics, with strong downward pressure reinforced by moving averages and momentum indicators. While some minor corrective bounces may occur, the dominant trend remains bearish, and sellers are likely to exploit any retracement toward resistance zones.
Traders are advised to align with the trend, maintain strict risk management, and avoid premature long entries unless a clear trend reversal signal appears.
could alter the positive outlook. Risk management and confirmation of technical signals remain essential amid this strong movement.
