GBP/JPY, Technical Analysis – H4

The anticipated downward trend reversal we highlighted last week has materialised. The pair is now undergoing a standard technical pullback. After testing the supply zone at 215.00, the price is expected to resume its dynamic bearish momentum and target the recent low near 213.00.

Key Levels: 

□ 215.00 — Supply zone  

□ 213.00 — Key support / target  

? Primary Scenario:

Sharp reversal lower from the 215.00 zone, targeting 213.00.

? Alternative Scenario: 

Consolidation around the 215.00 level.

⚖️ Analyst Commentary:

We assign a high probability to the primary scenario.