GBPJPY is still in a bullish correction after the strong bearish wave from 218.50 to 209.50. Price is now around 215.60 and moving toward the H4 Bearish OB at 218.00–218.60.
My view for today: I expect the bullish correction to continue toward 217.80–218.40 first. This is the main decision zone. If price sweeps the area and confirms a bearish MSS/CHoCH on the lower timeframe, I expect the next move to turn bearish.
📌 Today’s Trading Plan
Bias: Bullish correction → bearish reversal
Entry Zone: 218.00–218.40
Confirmation: Bearish MSS/CHoCH after rejection
SL: 218.90
TP1: 215.20
TP2: 214.20
TP3: 213.50
TP4: 212.20 Liquidity
📍 Expected Market Path
215.60 → 217.80–218.40
→ Sweep/rejection
→ Bearish MSS
→ 215.20
→ 214.20
→ 213.50
→ 212.20 liquidity
The 218.00–218.60 Bearish OB is the key area. I do not want to anticipate the reversal before price reaches this zone and confirms a structural shift.
Invalidation:
A strong H4 close above 218.60 invalidates the bearish reversal scenario and opens the possibility of further upside.
Key Insight:
The current rally is still treated as a correction until GBPJPY proves otherwise. For today, 218.00–218.60 is the level that decides whether this recovery continues or turns into the next bearish leg.
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