GBP/JPY Analysis: Strong Reversal and Bearish Setup Opportunity

17. JuliThe GBP/JPY continues its strong reversal from yesterday after reaching the 208.000 area, where a strong weekly supply zone has been present since July 2008. This significant resistance level has prompted the price to retrace.

According to the latest Commitment of Traders (COT) report, retail traders and non-commercial participants are still holding long positions, while commercial traders have shifted their positions to bearish over a month ago. This divergence between retail and commercial traders suggests a potential shift in market sentiment.

We are looking to capitalize on this reversal by setting up a bearish trade. Monitoring key levels and market conditions closely will be essential in executing this strategy effectively. As the price begins to retrace, identifying optimal entry points for a short position will be crucial in taking advantage of this bearish setup.

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18. Juli

Trade ist aktiv

26. Juli

Trade geschlossen: Ziel wurde erreicht

29. Juli

Trade geschlossen: Ziel wurde erreicht