GBPJPY

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GBPJPYGreat British Pound vs. Japanese YenFX:GBPJPYAsifAwan11Current Structure The 1H trend is still bullish overall. On the 15M, price is making a short-term bearish correction. Price is sitting between: Resistance: 216.68–216.72 Support: 216.35–216.40 (grey demand zone) The descending trendline is also acting as dynamic resistance. My Trading Plan 🟢 Buy Scenario (Preferred) I would not buy at the current price (216.55). Wait for: A 15M candle to close above 216.70–216.75. Then look for a retest of that breakout area. Entry: 216.72–216.76 Stop Loss: 216.48 Targets: TP1: 217.00 TP2: 217.30 TP3: 217.70 This offers a much better risk-to-reward than buying immediately. 🔴 Sell Scenario If price drops into 216.35–216.40 and then: closes below the support zone, and retests it from underneath, that would be a stronger short setup. Entry: Around 216.30–216.35 after the retest. Stop Loss: 216.55 Targets: TP1: 216.05 TP2: 215.80 TP3: 215.40 I would avoid selling before the support is actually broken.