GBP/JPY – 1H – SELLThe currency pair jumps from the bearish trendline down.
A continuation of the downward movement down to the next support line at 194.56000 is certain.
Caution: A possible change in the direction of the resistance level at 196.04400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 194.871 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 196.04400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 196.04400 |
| Current Price | 195.30000 |
| Next Low | 194.56000 |
| 2nd Low | 193.82600 |
| 3rd Low | 193.69800 |