GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A descent down to the next support at 193.62500 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 195.89500 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 194.204 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 195.89500 could occur.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 195.89500 |
| Current Price | 194.95300 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |