Price has failed to break the resistance zone multiple times since 2022. price is at the zone again and we can see the change in market structure to a bearish one which shows us reversal. We can also see a breakout of trend line which also helps us confirm that GBPJPY will be bearish. So we have 3 confirmations now which are failure to break resistance zone, change in market structure, break of trendline. We set our SL just right above the resistance zone. TP1 is at the first support zone at 158 and TP2 is the final take profit at 155 with a risk to reward ratio of 7:1. Risk wisely
Comment:
TP1 hit