GBP/JPY – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 197.8715 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 199.34700 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 199.34700 |
| Current Price | 198.41200 |
| Next Low | 197.79800 |
| 2nd Low | 196.39600 |
| 3rd Low | 195.09600 |