GBP/JPY Rejection at Supply → Next Stop: 204.00 !

[chainsniff]

The GBP/JPY Pair, Price has been trading within a Trendline Breakout on the M30 chart, forming consistent lower highs and lower lows. Price action is now testing the lower boundary of the pattern, signalling a possible breakdown.

Market Context:

1️⃣Downward structure building inside the pattern.
2️⃣Sellers are showing strength near support levels.
3️⃣Breakdown below the trendline indicates momentum continuation toward lower zones.

Trade Plan:

Entry: Sell after confirmed breakdown below the support (Candle close below trendline or retest of the breakout).

Take Profit (TP): At the Key Zone – major support area identified ahead.
Stop Loss (SL): Above the pattern structure / recent swing high.

Psychological Discipline:
1️⃣Stick to plan – No Revenge Trades.
2️⃣Accept losing trades as part of the strategy.
3️⃣Risk only 1–2% of your account balance per trade.

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️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Forex trading involves high risk. Trade only with capital you can afford to lose and always do your own research.

[Nahid Hossen]

That supply rejection was clean. 204 looks very reachable now.

[Abdul Khan]

JPY pairs moving exactly as expected — solid technical play. ️