GBP/JPY – 2H – SELL

The GBP/JPY 2H chart has fired a dense cluster of bearish signals, including a Trendline Break Up, Falling Wedge, and multiple indicator exits from overbought territory (CCI OB Exit, STOCH KD Cross Down, WILLR OB Exit) alongside EMA 50 and SMA 50 Retreat Downs. This confluence points to a strong bearish push, with the falling wedge pattern suggesting a continuation of the downtrend rather than a reversal. The trend across timeframes is uniformly bearish, with the 8H showing a very strong trend (4/5) and the 1D solid (3/5), reinforcing that the medium-term bias is to the downside. The 2H and 4H both show solid trends (3/5), while lower timeframes are still forming, indicating that the move may be early but aligned with higher timeframe momentum.

Key levels to watch are the nearest resistance at 212.32100 and support at 209.56500. A break below support would confirm the bearish continuation, while a reclaim of resistance would invalidate the signal. The signal probability is 69% with moderate strength, suggesting a decent edge but not a high-conviction setup. Traders should monitor price action around these levels and watch for any signs of momentum fading, especially if the 1H timeframe, which is choppy/sideways, starts to show conflicting signals.