GBPJPY: A Bearish Outlook

[TradingPuzzles]

GBPJPY: A Bearish Outlook

The pair is moving inside a rising wedge (a bearish pattern).

Price has already broken below the wedge support, which signals weakness.

If the drop continues, the next support levels (targets) are:
198.700
198.100
197.000

️The market can be tricky this time, so be careful and use proper risk management.

In short: GBPJPY looks bearish after breaking the wedge, but it’s risky due to BOJ Monetary policy and strange actions.

You may find more details in the chart!
Thank you and Good Luck!

[Nahid10]

198.7/198.1/197.0 support levels noted BOJ policy risk makes this setup tricky.

[Maxwell]

Nice breakdown GBPJPY really does look heavy after that wedge break. Those support levels (198.700 / 198.100 / 197.000) make sense as potential targets, but like you said — BOJ can flip the script anytime. Definitely a market where tight stops and smart risk management are key. ️