GBP/JPY – 1H – SELLThe currency pair jumps from the ascending trendline down.
A bearish movement downwards to the next support at 192.12400 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 195.17000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 191.073288 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 195.17000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.59200 |
| 2nd High | 195.96900 |
| Next High | 195.17000 |
| Current Price | 192.41100 |
| Next Low | 192.12400 |
| 2nd Low | 190.40600 |
| 3rd Low | 189.84600 |