GBPJPY, Technical Analysis – H1

The sharp decline may draw sellers’ attention, but with high probability the market will punish late entries. The pair is already testing a critical support level at 212.90, from which a dynamic rebound toward liquidity in the 215.20 area (the origin of the current drop) is likely.

Key Levels:

□ 212.90 (key support)  

□ 215.20 (liquidity zone/swing high)

? Primary Scenario:

Rebound from 212.90 and reversal toward 215.20.

? Alternative Scenario:  

Breakdown below 212.90 and continuation of the decline.

⚖️ Analyst Commentary:  

We do not recommend catching falling knives in this situation. Wait for confirmed bullish reversal signals at the 212.90 level.