Gbp/Jpy - Bullish Reversal From Demand ZoneGBP/JPYOANDA:GBPJPYHamza_GoldDemand Zone (Blue Rectangle): The price tapped into this zone and showed a rejection wick. Suggests strong buying interest, as seen previously on October 7-8. Acts as a support base for a potential reversal or bullish rally. Resistance / Target Zone (Green Rectangle): Previous support turned resistance, aligned with a weak high. Logical target for a bullish move. Near 205.000 psychological level — a good place for taking profit. Entry Setup: Entry Point: Marked at the edge of the demand zone. Confirmation: Price rejection with a long wick and small-bodied candle indicates a possible bullish reversal. Confluence Factors: Break of Structure (BOS) and Change of Character (ChoCH) earlier in the trend. The price is now creating a higher low, suggesting a potential trend shift. Price is oversold (outer Bollinger band tapped), signaling a mean reversion. Indicators & Tools: Bollinger Bands: Price touched the lower band (supportive of reversal). Bands are starting to widen again, suggesting incoming volatility. Parabolic SAR (dots): Currently above price, indicating a bearish trend — but could flip if price breaks upward. Moving Average (Green Line): Price is below the MA — will need to break above for stronger bullish confirmation. Trade Idea: Bias: Bullish Reversal from Demand Zone Entry: Around 202.600 (current level) Target: 205.000 zone (resistance / weak high) Stop Loss: Below demand zone — e.g., 201.900 (below the wick) Risk Management & Notes: Wait for confirmation (e.g., bullish engulfing or MA crossover). Monitor for false breakouts — a break below demand zone invalidates setup. Ideal R:R (Risk to Reward) appears to be 2:1 or better. Summary: This chart suggests a potential long trade setup based on price rejecting a strong demand zone, with a target set near a resistance/weak high area. If momentum builds and breaks above short-term resistance, a bullish move toward the 205.000 area is likely.