GBPJPY Technical Analysis

I have analyzed the GBPJPY currency pair and identified a clear bearish trend. Based on my analysis, the price is likely to decline further, with a target level marked by my horizontal line. This zone represents a critical support level where the price might consolidate or reverse.

Given the current market conditions, this is an optimal time for short positions. Traders can capitalize on short buying and selling opportunities as the price moves toward the projected limit. Proper risk management is essential to navigate potential volatility.