GBP/JPY Bearish Breakdown – Further Decline Ahead?

📉 GBP/JPY Daily Chart Analysis
🔍 Overview:
The chart shows GBP/JPY on the 1D timeframe.
A bearish outlook is suggested with a projected price decline.
The 200 EMA (193.295) is acting as resistance.
Current price: 191.906, slightly below the 200 EMA.
📊 Technical Breakdown:
Bearish Pattern Formation:

Price broke down from a rising wedge (bearish pattern).
After a brief retest, it's rejecting the 200 EMA, confirming weakness.
Support & Resistance Levels:

Resistance: 193.295 (200 EMA).
Support zones: 188.000, followed by 184.000.
Expected Price Action:

The bearish projection suggests further decline towards 188.000 & 184.000.
If price reclaims 193.295, it could invalidate the bearish scenario.
🎯 Conclusion:
⚠️ Bearish bias as long as the price stays below the 200 EMA. A drop to 188-184 seems likely unless buyers reclaim key levels.

📌 Watchlist:
✅ Break below 190.000 = Strong sell signal
✅ Reclaim of 193.295 = Bullish invalidation

🚨 Trade cautiously & manage risk! 🚨