FX.co ★ Sajidctn | GBP/JPY

BP/JPY M30 Technical Outlook – Bullish Breakout in Focus The GBP/JPY 30-minute chart is showing a potential bullish recovery, with price currently trading around 216.66. After a strong decline earlier in the session, the pair formed a base near the 216.29–216.35 area and gradually started creating higher lows. This indicates that buyers are becoming more active and attempting to regain control. Market Structure The recent price action shows a recovery from the lower support zone. Price has moved back above 216.54 and is now consolidating close to 216.65–216.67. The short-term structure is improving, although the pair is still facing resistance from the moving-average cluster and the 216.68–216.70 region. The RSI(14) is around 57, which supports a moderately bullish momentum. RSI remains above the 50 level but is not yet in overbought territory, leaving room for another upward move if buyers generate sufficient volume. Key Resistance & Liquidity The first important resistance is 216.68–216.70. A clean M30 candle close above this area could trigger a bullish continuation toward 216.74, followed by 216.79. Above 216.70, buy-side liquidity may become the next target as short positions are potentially forced to cover. However, repeated rejection around 216.65–216.68 would indicate that sellers are defending this zone. In that case, price could return toward the nearby support areas. Bullish Setup A preferred long setup would be a breakout and retest of 216.68–216.70. If price breaks the resistance with strong momentum and successfully retests it as support, the potential targets are: TP1: 216.74 TP2: 216.79 Extension: 216.85 A protective SL can be considered below the retest structure, depending on individual risk management. Bearish Invalidation The bullish idea becomes weaker if price falls below 216.54 and closes there with strong selling pressure. A deeper breakdown could expose 216.49, followed by 216.44–216.40. A break below 216.35 would significantly damage the current recovery structure.

Final View Overall, GBP/JPY M30 has a mild bullish bias while price remains above 216.54. The key decision zone is 216.68–216.70. A confirmed breakout could open the path toward 216.74 and 216.79, while rejection may lead to another liquidity sweep toward lower support. Traders should wait for confirmation rather than entering directly into resistance.