GBP/JPY – 1H – BUYThe pair breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance line at 198.36900 will continue.
Caution: A possible trend reversal in the direction of the support level at 196.48700 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 198.779812 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 198.36900 could occur.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.70900 |
| Next High | 198.36900 |
| Current Price | 198.29000 |
| Next Low | 196.48700 |
| 2nd Low | 195.36700 |
| 3rd Low | 195.09600 |