GBP/JPY, Technical Analysis – H4
The pair appears to be in the early stages of developing a downside reversal signal from the 215.15 zone.
The pair appears to be in the early stages of developing a downside reversal signal from the 215.15 zone. The price action here is notably choppy and irregular, suggesting a likely retest or breach of the recent two highs around 214.50.
Key Levels:
□ 215.15 (potential reversal zone)
□ 214.50 (key near-term support)
Primary Scenario:
Decline from the 215.15 zone toward 214.50.
Analyst Commentary:
Bulls continue to display solid momentum, which may prove deceptive. This type of erratic structure is often characteristic of the final phase of a move.
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.