GBP/JPY – 1H – SELLThe pair jumps from the bullish trendline down.
A bearish descent down to the next support line at 194.61900 is certain.
Caution: A possible change in the direction of resistance at 195.71900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 194.298 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 195.71900 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 | 195.71900 |
| Current Price | 194.80000 |
| Next Low | 194.61900 |
| 2nd Low | 193.56500 |
| 3rd Low | 192.87700 |