GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish movement down to the next support level at 197.07200 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 197.98600 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 197.670232 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 197.98600 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.05200 |
| Next High | 197.98600 |
| Current Price | 197.83800 |
| Next Low | 197.07200 |
| 2nd Low | 196.64800 |
| 3rd Low | 196.48700 |