GBP/JPY, Technical Analysis – H4
The pair is in the early stages of forming a bearish trend impulse.
The pair is in the early stages of forming a bearish trend impulse. This setup favors short positions, targeting a medium-term decline toward the key round levels of 214.00 and 213.00.
Key Levels:
□ 214.00 — primary downside target
□ 213.00 — next major support level
Primary Scenario:
Decline toward 214.00.
Alternative Scenario:
Continued consolidation around current levels in preparation for the upcoming downward move.
Analyst Commentary:
The scenario has a high probability of playing out.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.