GBP/JPY – 30M – BUYThe currency pair breaks through the descending trendline upwards
A bullish ascent up to the next resistance at 197.72200 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 196.48700 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 198.779812 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 197.72200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.70900 |
| 2nd High | 198.36900 |
| Next High | 197.72200 |
| Current Price | 197.60200 |
| Next Low | 196.48700 |
| 2nd Low | 195.36700 |
| 3rd Low | 195.09600 |