GBP/JPY – 1H – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 198.371 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 199.132 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair could go down.
Then a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair could go down.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 198.489066 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support zone at 199.132 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.29 |
| 2nd High | 199.183 |
| Next High | 199.132 |
| Current Price | 198.55900 |
| Next Low | 198.371 |
| 2nd Low | 198.271 |
| 3rd Low | 197.854 |
199.132 – 199.183 – 199.05 – 198.371 – 198.271 – 198.739 — 41.831968936768 – 39.468484692992 — 70.769166528664 – 43.242039003787 – 86.070744753233 – 68.732740297987
Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Triple bottom chart pattern – –