$GBPJPY short tgt 186 stop abv 200 The cross has produced a powerful confluence of bearish signals, suggesting a significant shift in trend after its recent rally. The weekly chart has formed a large bearish outside week candle, a highly significant reversal pattern that indicates sellers have overwhelmed buyers on a longer timeframe. This sell-off was triggered by a failure to decisively break above the 200 level, a key resistance that has capped upside multiple times in the fourth quarter of 2024. This bearish sentiment is being confirmed by momentum indicators across the board. The standard MACD (12, 26, 9) is producing deeper bars below the zero line, signaling a strong short-term downtrend. More significantly, the longer-term MACD has also flipped bearish, indicating a shift in momentum on a larger scale. The price is now trading below both the short- and long-term Guppy EMA bands, confirming that a downtrend is in place, even though the bands have yet to confirm a full bearish crossover. The path of least resistance for GBP/JPY now appears to be lower. Traders should look for continued weakness and be prepared for a potential extended decline, with any short-term rallies likely to be corrective in nature against a stronger prevailing downtrend. A close above 200 would flip the outlook bullish in favor of long trades.