GBP/JPY – 1H – SELLThe combination jumps from the ascending trendline downwards
A descending movement downwards to the next support line at 183.76300 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 186.72600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 185.902 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 186.72600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 188.11900 |
| 2nd High | 188.09000 |
| Next High | 186.72600 |
| Current Price | 186.61600 |
| Next Low | 183.76300 |
| 2nd Low | 183.71400 |
| 3rd Low | 182.80400 |