GBPJPY Sell ideaGBP/JPYOANDA:GBPJPYDBFXTrader1.Market Structure •The pair recently created a lower high around the 199.25 zone, failing to break above previous resistance. •Price has since made a lower low at 198.28, showing bearish intent. •The current pullback into the supply area (199.00 – 199.25) suggests a possible continuation to the downside. 2.Supply & Demand Zones •Supply zone (199.00 – 199.25): Previous rejection area where sellers stepped in. •Demand zone (198.28): Minor support, but already tested and likely to be weak. •Next strong demand is near 196.97, making it a logical target for bears. 3.Candlestick Behavior •Current candles show rejection wicks near the supply zone. •Momentum slowing down near resistance indicates possible exhaustion of buyers. 4.Trade Setup (Short Bias) •Entry: Around 198.90 – 199.00 (supply retest). •Stop-Loss (SL): Above 199.25 (previous high). •Take-Profit (TP): •TP1: 198.28 (local support). •TP2: 196.97 (major target). •Risk-to-Reward (R:R): Approximately 1:3, favoring sellers. 5.Confluences Supporting the Sell •Lower high formation = bearish structure. •Supply rejection at 199.00 zone. •Risk/reward ratio is favorable (tight SL, extended downside potential). •Psychological level 199.00 acting as resistance. ⸻ 📉 Bearish Outlook As long as GBPJPY trades below 199.25, the bearish bias remains valid. A clean break and close above this level would invalidate the setup and shift bias back to bullish.