GBP/JPY (1H) Analysis & Trading Opportunity

Market Structure:

Break of Structure (BOS): Indicates prior bearish momentum.
Change of Character (ChoCH): Signals a potential trend reversal to bullish.

Demand Zone (Highlighted in Blue at ~187.500): Price reacted strongly, causing an impulsive move up.

Supply Zone (Highlighted in Red at ~191.500): A previous resistance level where price might slow down or reverse.

Current Price Action:

Strong bullish momentum from the demand zone (~187.500).
Price is approaching the supply zone (~191.500), which could act as resistance.

If price rejects the supply zone, a short opportunity may arise.
If price breaks above the supply zone with strong momentum, a pullback and retest could offer a buy entry.

Trade Setup Idea:
📌 Sell Setup (If Rejection at 191.500)

Entry: Near 191.500 resistance
Stop-Loss: Above 192.000
Take-Profit: 189.500 (previous minor support)

📌 Buy Setup (If Break & Retest Above 191.500)

Entry: After a pullback and confirmation above 191.500
Stop-Loss: Below 190.800
Take-Profit: 193.500