GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
A descending movement downwards to the next support at 193.62500 is expected.
Caution: A possible change in the direction of the resistance level at 194.99000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 194.99 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 194.99000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 194.99000 |
| Current Price | 194.53100 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |