gbp jpy intraday smart analysis

GBP JPY Intraday – Smart Analysis

Price is moving inside a clear consolidation range after an impulsive move up. Multiple rejections from resistance show weakening bullish momentum.

🔹 Structure:

Range-bound between support & resistance

Liquidity building on both sides

🔻 Bearish Scenario:

Break below range support → continuation toward lower demand zone

Recent fake breakout suggests downside liquidity grab

🔸 Bullish Scenario:

Clean breakout + hold above resistance → continuation of uptrend

📌 Conclusion:

Currently in accumulation/distribution phase — wait for confirmed breakout. Short bias below support, bullish only on strong breakout and retest.