GBPJPY - Bearish Opportunity

17 Nov

The GBPJPY pair has broken below a rising channel on the 4-hour timeframe, suggesting a shift in momentum from bullish to bearish. A pullback toward the broken channel's support-turned-resistance area could present a favorable entry for short positions. Look for shorts around 195.00–196.00 during a potential retest. The first target at 190.00, with an extended target at 184.10. Place stops-loss above 199.550.