GBPJPY Bullish Momentum — Recovery Could ExtendGBP/JPYOANDA:GBPJPYGlobal_Gold_InsightsGBPJPY Bullish Reversal & Recovery Setup 📈 GBPJPY is showing a potential bullish recovery setup after a sharp bearish selloff toward the marked weak-low area. The chart suggests that price may attempt to stabilize around the 213.80–214.20 region and build a short-term recovery toward the 216.00 area. However, confirmation is important because the broader structure is still under pressure after the recent breakdown. 📈 Bullish Scenario The bullish scenario becomes stronger if GBPJPY holds above the 213.80–214.20 support area and starts forming higher lows on the 1H timeframe. A successful recovery above 214.80–215.00 would indicate that buyers are regaining short-term control. A sustained move above 215.50 could strengthen the recovery and bring the marked target around 216.019 into focus. If price breaks and holds above 216.019, buyers could continue toward 216.50–217.00, followed by the major resistance zone around 217.40–217.50. 🎯 Bullish Targets: • TP1: 215.00 • TP2: 215.50 • TP3: 216.019 • TP4: 216.50–217.00 • Extended target: 217.40–217.50 🔻 Bearish Scenario The bullish setup can fail if price continues to reject recovery attempts and breaks below the weak-low/support region around 213.80. A sustained move below this area would indicate that sellers remain dominant and could trigger another bearish leg. If 213.80 breaks decisively, the next downside areas to watch are 213.50 and 213.00. Traders should be cautious about buying while price remains below the broken structure, as any recovery could simply become a temporary pullback. 🎯 Bearish Targets: • TP1: 213.80 • TP2: 213.50 • TP3: 213.00 • Further downside if strong selling continues 📊 Key Points • 🟢 213.80–214.20 is the key support/reversal area. • 📈 Holding the weak-low zone can support a bullish recovery. • 🔄 A move above 214.80–215.00 would improve bullish momentum. • 🎯 216.019 is the main upside target shown on the chart. • 🚀 A breakout above 216.019 could open 216.50–217.00. • 🧱 217.40–217.50 remains a major resistance/supply zone. • 🔻 A break below 213.80 would weaken the bullish setup. • ⚠️ Below the weak low, sellers could regain full control. 💡 Trading Perspective From a trading perspective, the cleaner bullish opportunity would be to wait for price to stabilize around support and confirm a reversal through higher lows and bullish candles. Rather than chasing the first bounce after the sharp decline, traders can look for a controlled pullback followed by renewed buying pressure. The 215.00 area can act as an important confirmation level, while 216.019 is the key projected target. If price reaches this area, traders should monitor the reaction carefully because resistance may produce another pullback. For the bearish side, rejection around 214.80–215.50 or a breakdown below 213.80 would favor sellers. The overall setup therefore remains conditional: holding the weak-low area keeps the recovery scenario alive, while a decisive break below it would invalidate the bullish idea. ⚠️ Risk Management GBPJPY can move quickly because of its volatility, so proper position sizing and stop-loss planning are important. Avoid entering solely on a single candle; wait for structure confirmation and consider the distance to the invalidation level before taking a trade. The key levels to monitor are 213.80 support, 215.00 confirmation, 216.019 target, and 217.40–217.50 major resistance.