GBP/JPY – 30M – BUYThe pair goes from the bullish trendline down.
A bearish descent down to the next support level at 197.79800 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 199.34700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 199.347 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 199.34700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 199.34700 |
| Current Price | 198.86600 |
| Next Low | 197.79800 |
| 2nd Low | 197.13400 |
| 3rd Low | 196.39600 |