GBP/JPY Timeframe H4 
The movement of the GBP/JPY currency pair on the H4 timeframe shows a fairly complex market dynamics, where there was previously a strong bullish trend but is now entering a correction and consolidation phase after experiencing sharp selling pressure. Technical analysis using the 100-period Moving Average (MA 100), 200-period Moving Average (MA 200), as well as horizontal support and resistance lines provide a clear picture of the change in momentum and the balance of power between buyers and sellers. In the initial phase of the movement seen on the left side of the chart, prices moved relatively sideways before eventually forming a solid uptrend. This increase is marked by the price position successfully breaking through the MA 100 and then the MA 200, accompanied by both moving averages sloping upwards. This condition indicates strong buyer dominance and signals the formation of a medium-term bullish trend. During this period, the MA 100 is above the MA 200 and acts as a dynamic support that maintains the stability of the uptrend. The bullish momentum peaked when prices successfully broke through the horizontal resistance in the area around 215.20 to 215.45. This breakout showed a fairly aggressive acceleration of the uptrend until forming a new price peak in the range of 216.50. This area becomes a major resistance as a very strong selling reaction emerged after the price touched that level. The sharp rejection in this zone resulted in an impulsive bearish candle that quickly brought the price down, indicating significant distribution or profit-taking actions by market participants. This sharp decline marked a turning point in the market character. Prices not only fell from the resistance but also broke through the MA 100 and approached the MA 200. This indicates that the previous bullish momentum is starting to lose strength. The MA 100, which previously acted as support, is now turning into dynamic resistance, as seen from several failed attempts of prices to stay above it. Currently, the price is positioned between the MA 100 and MA 200, which generally indicates a transitional or consolidation phase. The MA 200 is still slowly moving upwards, indicating that the medium-term uptrend is not yet fully over, despite the ongoing correction pressure. As long as the price remains above the MA 200, the possibility of a bullish recovery remains open. On the horizontal support side, the area around 211.70 is the nearest and very important support. This level has held the price decline several times and triggered bounce-back reactions, indicating significant buying interest. A breakout below this level could potentially open up a downward move towards the next support around 210.45, which is the previous price balance area and a significant demand zone. The major support is at 209.50, which is the main boundary of the medium-term bullish structure. Meanwhile, the nearest resistance is in the range of 213.00, which serves as a short-term supply area and the point where the price meets the MA 100. As long as the price remains below this level, corrective bearish pressure is likely to remain dominant. The next resistance is at the range of 215.25 to 216.50, which is the previous price peak zone and a major obstacle for the continuation of the uptrend. The current price action structure shows increased volatility with the emergence of long-tailed candles at the bottom, reflecting a strong battle between buyers and sellers. Such patterns often appear when the market is seeking a new balance after an impulsive movement. The correction that occurs does not immediately erase the previous uptrend but rather resembles a re-accumulation phase before the next direction becomes clearer. The price interaction with the MA 200 will be the main determining factor in the upcoming sessions. If the price manages to stay above the MA 200 and re-breaks above the MA 100, then the scenario of a bullish recovery is highly likely. Conversely, if selling pressure increases again and the price closes below the MA 200, then the market structure could potentially turn into a medium-term bearish trend. Overall, the technical condition of GBP/JPY on the H4 timeframe is currently in a correction phase after a strong bullish trend. Moving averages indicate that the market is at a crucial decision point, while horizontal support and resistance levels form clear boundaries of movement. The market has not fully reversed to become bearish, but it requires confirmation of new momentum to determine whether the uptrend will continue or instead turn into a deeper distribution phase.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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