GBP/JPY, Technical Analysis – H4
Bulls have successfully defended the overall uptrend structure during the latest technical pullback, effectively removing near-term concerns about a potential trend reversal.
Bulls have successfully defended the overall uptrend structure during the latest technical pullback, effectively removing near-term concerns about a potential trend reversal. A fresh upward impulse is now expected, targeting a break above the recent high near 218.00, with further objectives at 218.50 and 219.00.
Key Levels:
□ 218.00 (key resistance/breakout level)
□ 218.50 (next target)
□ 219.00 (further upside target)
Primary Scenario:
Advance toward 218.50 and 219.00.
Alternative Scenario:
Encountering resistance at 218.00.
Analyst Commentary:
Despite the strong and confident uptrend, it is worth noting that the current wave is already the seventh in sequence. This raises the risk of bull exhaustion and potential profit-taking once new highs are printed.
Николай Криштопов — рыночный аналитик Investizo с более чем 15-летним опытом работы в индустрии финансовых рынков и более чем десятилетним опытом трейдинга. В сферу его интересов входят валютный и криптовалютный рынки, технический анализ, внутридневная торговля и поведение рынка.