The GBPJPY has experienced a bearish breakout through support, following a Rising Wedge pattern. The target is set at 190.2.

The trading configuration was spotted on GBPJPY. The GBPJPY price pierced through the support line of a Rising Wedge pattern on 27th February 2024 at 4 AM. There’s a prediction of potential bearish price movement over the next 22 hours towards 190.2.

The pattern’s overall visual quality is moderate. The trading arrangement is distinctly visible, with minimal disturbance during the oscillations between support and resistance. The breakout through the support was notably feeble. It would be advisable to wait for additional confirmation of this breakout before initiating a position.