GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 198.94500 is likely expected.
Caution: A possible counter-trend in the direction of support at 194.05400 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 197.68948 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 198.94500 could occur.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.70900 |
| 2nd High | 199.55300 |
| Next High | 198.94500 |
| Current Price | 196.69700 |
| Next Low | 194.05400 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |