GBP/JPY, Technical Analysis – H4
GBP/JPY has completed an upward correction into the strong pivot zone at 215.00–215.30, where substantial supply is expected and a fresh leg lower may begin.
The upward correction has reached the strong pivot zone of 215.00–215.30, where significant supply is likely to be encountered and a new downward phase may follow. If this scenario plays out, the bears’ targets will be 212.00 and 211.00. Should the bulls manage to consolidate above 215.30, the correction could extend as far as 218.00 (see the red trajectory on the chart).
Key Levels:
□ 215.00–215.30 (pivot / supply zone)
□ 212.00 (primary downside target)
□ 211.00 (extended downside target)
□ 218.00 (upside correction target)
Primary Scenario:
Reversal lower from the 215.00–215.30 zone and a decline toward 212.00.
Alternative Scenario:
Breakout to 216.00 with a subsequent target at 218.00.
Analyst Commentary:
Despite the dominant position of the bears, both scenarios remain possible given the technical logic of retesting supply zones.
Nikolai Krishtopov es analista de mercado en Investizo, con más de 15 años de experiencia en el sector de los mercados financieros y más de una década de experiencia operando. Sus áreas de interés incluyen los mercados de forex y criptomonedas, el análisis técnico, el trading intradía y el comportamiento del mercado.