SHORT GBPJPY

GBPJPY Technical Analysis
February 7, 2025
Short Setup Analysis
Yen Strength

Daily: Major support break
4H: Price retesting EMA 21
Higher timeframe trend: Bearish

Technical Structure

Break of major support level on daily trend line
Retest of EMA 21 on 4-hour chart
Bearish momentum confirmed
Multiple timeframe alignment
show of strength in other yen pairs

Trade Setup

Entry: Short at EMA 21 retest (4H)
Stop Loss: Above recent swing high
Target: August 2024 support level
Entry Confirmation: Rejection at EMA 21 on 4h