GBPJPY | Bearish Continuation Setup British Pound / Japanese YenFOREXCOM:GBPJPYJ4mesWickGBPJPY is currently trading around 209.460(At the time of the writting), approaching a key higher-timeframe resistance zone following a corrective bullish retracement. Despite the recent upward move, the overall market structure remains bearish, with price trading below the major structural resistance at 210.250. I’m looking for a potential short opportunity if price retraces into the 209.800–209.950 resistance zone, where the 30-minute supply zone aligns with the higher-timeframe 4H bearish supply area. Multi-Timeframe Analysis Daily (D1): Bearish Bias Price has broken below the previous support level at 209.200, which may now act as resistance. The current move is viewed as a corrective retracement into the breakdown area, with the major downside target located at 207.100–207.400 support. 4H : Bearish Market Structure The 4H timeframe maintains a bearish break of structure (BOS). Price is retracing toward the 209.700–210.150 resistance and supply zone, which could act as an area of renewed selling pressure. 1H: Liquidity Sweep Price has swept short-term buy-side liquidity above the 209.300–209.400 resistance area. I’m monitoring for bearish confirmation as price approaches the overhead resistance zone. Potential downside liquidity targets sit around 208.200 and 207.400. 30M / 15M – Execution Zone The refined resistance zone is 209.800–209.950, overlapping with the 30M supply zone and the 1H fair value gap. I will wait for price to reach this area and look for confirmation before considering a short entry. Trade Plan * Direction: SELL * Entry: 209.900 * Resistance / Supply Zone: 209.800–209.950 * Stop Loss: 210.250 * TP1: 208.800 * TP2: 207.400 * Risk-to-Reward: Approximately 1:3.14 to TP1 and 1:7.14 to TP2 * Risk Management: Maximum 0.5%–1% account risk, with 50% of the position planned to close at TP1. If TP1 is reached, the stop loss will be moved to breakeven at 209.900. Invalidation & Confirmation The bearish scenario remains valid while price respects the 210.250 resistance and structural invalidation level. A decisive break and acceptance above this level would weaken the current short setup. No market entry at current price. I’m waiting for price to retrace into resistance and provide a clear execution opportunity. Key Levels to Watch * Resistance: 209.800–209.950 * Major Resistance / Invalidation: 210.250 * Intermediate Support: 208.800 * Key Support: 208.200 * Major Support / Final Target: 207.100–207.400 Patience over prediction. Let price come to the level and confirm the setup.