GBP/JPY – 30M – BUYThe combination jumps from the ascending trendline down.
The bearish trend downwards to the next support at 195.36700 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 199.70900 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 197.538 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 199.70900 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 199.70900 |
| Current Price | 197.04300 |
| Next Low | 195.36700 |
| 2nd Low | 195.09600 |
| 3rd Low | 195.08500 |