GBPJPY 4HRGBP/JPYOANDA:GBPJPYFin_free_figt𧩠1. Main Structure â¢The price has formed a Rising Wedge pattern â a bearish reversal structure. â¢After breaking down from the wedge, GBP/JPY started moving lower. â¢The chart shows both supply and demand zones, which represent areas of potential reversal. ð© 2. Demand Zone (Bottom Area) â¢Marked around 198.000â199.000. â¢This zone is labeled as DâMAND ZONE, meaning buyers are expected to step in here. â¢The price touched or nearly reached this area and showed a bounce â confirming it as a strong support. ð¥ 3. Supply Zone (Top Area) â¢Located around 203.500â204.000. â¢This is where sellers are likely to re-enter the market. â¢The chart labels it as a SUPPLY ZONE (X). ð 4. BOS and CHoCH Labels â¢BOS (Break of Structure): indicates continuation of the current trend. â¢For example, when a previous low is broken â bearish continuation. â¢CHoCH (Change of Character): signals potential reversal. â¢Appears when the trend switches from making lower lows to higher highs (or vice versa). In the chart, CHoCH marks the shift from bearish to bullish, and BOS confirms continuation afterward. ð 5. Expected Market Path (Projection) The wavy arrow shows a forecast of price movement: 1.Current move â upward towards the supply zone (~203.5â204). 2.Then, a rejection from that supply zone â pullback lower. 3.Price might again retest the demand zone (~199). 4.After liquidity grab (EQ liquidity area), price could reverse sharply upward. This projection implies: â¢Short-term bearish retracement, but â¢Medium-to-long-term bullish continuation.