GBP/JPY – 1H – BUYThe currency pair goes from the bullish trendline down.
A descending movement downwards to the next support at 194.56000 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 196.51600 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 196.516 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 196.51600 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 196.51600 |
| Current Price | 196.19300 |
| Next Low | 194.56000 |
| 2nd Low | 193.82600 |
| 3rd Low | 193.69800 |