GBP/JPY: Rising Channel Breakdown – Bearish OutlookGreat British Pound vs. Japanese YenFX:GBPJPYKABHI_TA_TRADINGSetup Overview GBP/JPY is showing signs of a bearish shift after breaking below its rising channel support. The recent move toward 213.50 appears to have been a false breakout, followed by strong selling pressure. Price is now trading around 211.00, with sellers attempting to push the pair toward the next key support levels. Potential JPY appreciation driven by intervention risk could reinforce selling pressure. 📊 Trading Plan Entry Zone: Wait for a confirmed bearish retest and rejection of the broken rising channel support before considering a bearish position. 🔴 1st Support: 209.35 🔴 2nd Support: 208.35 🟢 Resistance Zone: 212.16–212.64 Invalidation/Stop-Loss: A sustained 4H close above the resistance zone would weaken the bearish setup. Apply appropriate stop-loss and position sizing. What Are the Key Fundamental Drivers? 1. Japanese Yen Intervention Risk: USD/JPY trading above 160 increases the risk of Japanese authorities intervening, potentially triggering sudden JPY appreciation and adding downside pressure to GBP/JPY. 2. Energy-Driven Inflation: Higher energy costs could squeeze real incomes and consumer spending, creating additional economic uncertainty. On the daily timeframe, GBP/JPY maintains a bearish bias, as price faces rejection near the rising channel support and trades below both the 100-day and 200-day EMAs, signalling weakening bullish momentum and increasing the possibility of a further decline towards 208.00. #GBPJPY #Forex #TradingView ⚠️ Disclaimer This setup is shared for educational purposes only. It is not financial advice. Always do your own analysis and apply proper risk management before trading any setup. Can GBP/JPY maintain its bearish breakdown below the rising channel and move towards 209.35, followed by 208.35?