GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 196.31000 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 197.06600 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94500 |
| Next High | 197.06600 |
| Current Price | 196.87500 |
| Next Low | 196.31000 |
| 2nd Low | 195.74500 |
| 3rd Low | 194.05400 |