GBP/JPY – 1H – SELLThe pair goes from the ascending trendline down.
A descent down to the next support line at 190.12600 is certain.
Caution: A possible change in the direction of resistance at 192.43100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 190.870568 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 192.43100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.48100 |
| 2nd High | 193.35400 |
| Next High | 192.43100 |
| Current Price | 192.30000 |
| Next Low | 190.12600 |
| 2nd Low | 188.70000 |
| 3rd Low | 186.68500 |