GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 197.07200 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 198.23700 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 197.4425 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 198.23700 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.91900 |
| 2nd High | 198.45500 |
| Next High | 198.23700 |
| Current Price | 197.77600 |
| Next Low | 197.07200 |
| 2nd Low | 196.64800 |
| 3rd Low | 196.48700 |