GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
The bearish trend down to the next support line at 195.84100 will persist.
Caution: A possible trend reversal in the direction of resistance at 197.53900 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 195.411396 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 197.53900 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.25200 |
| 2nd High | 198.19200 |
| Next High | 197.53900 |
| Current Price | 195.93700 |
| Next Low | 195.84100 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |