GBP/JPY – 1H – SELLThe pair moves from the ascending trendline downwards
A bearish descent downwards to the next support line at 196.64300 is considered certain.
Caution: A possible change in the direction of the resistance line at 198.43200 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 196.129 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 198.43200 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.43200 |
| Current Price | 196.86500 |
| Next Low | 196.64300 |
| 2nd Low | 195.09600 |
| 3rd Low | 194.56000 |