GBP/JPY 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This GBP/JPY 1-hour chart presents a bullish trade setup, suggesting an upward move. Here's the analysis:

Key Observations:

1. Support Zone: Price has bounced from a strong support level near 188.432 - 189.081, indicating potential buying interest.


2. Bullish Projection: The black arrow suggests an expected rise toward the 191.041 - 191.086 resistance zone.


3. Risk-Reward Setup:

Entry: Near 189.110

Take Profit (TP): Around 191.086

Stop Loss (SL): Below 188.432, ensuring risk management.



4. Market Structure: A higher low formation suggests a shift to bullish momentum.



Trade Idea:

A long (buy) position is expected to reach 191.086, provided price holds above support. A break below 188.432 may invalidate this setup.

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