FX.co ★ GBP/JPY

GBPJPY H1 Technical Outlook – Bearish Trend with Short-Term Recovery Market Structure GBPJPY remains bearish on the H1 timeframe. The chart shows a strong downward move from the 214.40 area toward 210.00, creating a clear sequence of lower highs and lower lows. Price is currently attempting a small recovery, but the broader structure has not yet shifted bullish. Current Price Action Price is trading around 210.952, after bouncing from the 210.00–210.18 demand area. Recent candles show some buying pressure, but the rebound is still relatively weak compared with the previous bearish impulse. The important near-term level is 210.95–211.00. A sustained H1 close above this area could allow the recovery to continue toward 211.40. However, rejection around this resistance would favor another bearish move. Liquidity & SMC View The recent recovery may be taking buy-side liquidity above the short-term highs around 210.95–211.10. If price sweeps this area and then produces a bearish rejection or market-structure shift, it could provide a stronger short setup. The major upside resistance remains around 213.70, while the moving averages are also positioned above price, supporting the larger bearish bias. Short Setup A preferred bearish scenario is: Entry: 210.90–211.20 after bearish confirmation SL: Above 211.40–211.60 TP1: 210.72 TP2: 210.18 TP3: 209.77 A clean break below 210.18 would strengthen the bearish continuation and could expose lower levels. RSI Confirmation RSI(14) is around 39.59. It has recovered from lower levels but remains below 50, indicating that momentum is still relatively bearish. A move above 50 would warn that buyers are gaining stronger control.

Invalidation & Next Move The bearish idea becomes weaker if GBPJPY establishes H1 closes above 211.40. Above that level, the recovery could extend toward 212.20–212.60. Key point: The current bounce looks more like a correction within the larger downtrend. Watch 210.95–211.40 carefully for rejection before considering a short.