GBP/JPY – 1H – SELLThe pair goes from the bearish trendline down.
A continuation of the downtrend down to the next support level at 189.56100 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 193.35800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 189.561 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 193.35800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.59200 |
| 2nd High | 195.96900 |
| Next High | 193.35800 |
| Current Price | 190.64700 |
| Next Low | 189.56100 |
| 2nd Low | 188.70000 |
| 3rd Low | 186.68500 |