GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.
A bearish movement down to the next support line at 197.01500 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 197.55600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 197.341284 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 197.55600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94500 |
| 2nd High | 197.62000 |
| Next High | 197.55600 |
| Current Price | 197.52200 |
| Next Low | 197.01500 |
| 2nd Low | 196.78300 |
| 3rd Low | 196.59900 |