GBP/JPY (British Pound / Japanese Yen) on a 4-hour timeframe.

Mar 17

GBP/JPY (British Pound / Japanese Yen) on a 4-hour timeframe.



Chart Details:

• Current Price: 193.768

• Sell Price: 193.640

• Buy Price: 193.896

• Trend: The price is in an uptrend and has reached the marked “Entry Zone”, indicating a potential buy opportunity.



Possible Price Movement:

• The Entry Zone is highlighted as a potential buy area, meaning the price could bounce upward from this level.

• Key resistance levels (targets for take profit):

• 195.500

• 196.103

• 196.124 - 196.500 (major resistance zone)

• The chart shows a zig-zag bullish pattern, suggesting that the price may experience minor pullbacks before continuing upward.



Analysis:

• If the price holds above the “Entry Zone,” it could be a buy opportunity.

• Take Profit (TP) levels: 195.500, 196.103, and 196.500

• If the price breaks below the zone, a bearish movement could occur.



This chart suggests a bullish setup for GBP/JPY, but confirmation through price action is necessary before entering a trade.

Trade active

Active Trade 194 pips running,