GBP/JPY – 1H – SELLThe combination moves from the descending trendline down.
A continuation of the downward movement down to the next support at 197.10200 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 199.55300 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.70900 |
| Next High | 199.55300 |
| Current Price | 198.75900 |
| Next Low | 197.10200 |
| 2nd Low | 196.48700 |
| 3rd Low | 195.36700 |