GBP/JPY – 2H – BUY

The 2H GBP/JPY chart is firing a cluster of bullish signals, led by a Trendline Retreat Up and an Ascending Triangle breakout, both confirmed by an EMA Retreat Up and a higher-timeframe trendline retreat. The BOP Zero Cross Up indicates improving buying pressure, while oscillator readings (STOCH KD Cross Down, WILLR OB Entry) suggest a pullback within an uptrend rather than a reversal, and the MACD Signal Cross Down points to a short-term momentum dip that could resolve higher. The signal's very strong probability (92%) is supported by confluence across multiple groups—trendline, candlestick, indicator, fibonacci, and chart pattern—and by bullish alignment on the 2H, 4H, 8H, and 12H timeframes, even as lower timeframes (15m-1h) remain bearish and choppy.

Key levels to watch are resistance at 218.676 and support at 214.779. A break above resistance would confirm the ascending triangle's bullish continuation, while a loss of support would invalidate the setup. The mixed higher timeframe picture (daily bearish) and the current oscillator pullback mean traders should wait for confirmation—either a bounce off support or a close above resistance—before committing. The trend is forming but not yet mature, so patience is advised.