GBP/JPY Price Outlook – Trade SetupBritish Pound / Japanese YenFOREXCOM:GBPJPYATFX_Global📊 Technical Structure GBPJPY GBP/JPY is trading in a range-bound structure with a bullish recovery from support, rather than a clear rejection from resistance. Price reacted strongly from the 214.17–214.42 support zone, forming higher lows and gradually pushing back toward mid-range (~214.80–215.00). This suggests buyers are defending the lower boundary of the range. While resistance at 215.33–215.55 remains intact, current price action shows accumulation above support, favouring a continuation toward the upper range. Short-term bias: Bullish within range (buy dips) 🎯 Trade Setup (Buy on Dip) Entry Zone: 214.17 – 214.42 Stop Loss: 214.09 Take Profit 1: 215.33 Take Profit 2: 215.55 Risk–Reward Ratio: Approx. 1:3.44 📌 Invalidation: A clean break below 214.09 would invalidate the bullish structure and shift bias back to downside. 🌐 Macro Background Fundamentals slightly support upside attempts: BoE hike expectations keep GBP supported JPY remains relatively weak due to BoJ caution Middle East uncertainty limits strong trends → favors range trading Mixed UK data = no strong bearish catalyst Overall macro bias: Range with slight upside tilt 🔑 Key Technical Levels Resistance Zone: 215.33 – 215.55 Support Zone: 214.17 – 214.45 📌 Trade Summary GBP/JPY is holding above support and building higher lows. Preferred strategy: Buy dips, targeting a move back toward range highs. ⚠️ Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.