GBP/JPY – 30M – BUYThe combination breaks through the bearish trendline up.
A bullish trend upwards to the next resistance level at 197.21100 is certain.
Caution: A possible change in the direction of support at 196.41900 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 197.644704 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 197.21100 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43200 |
| 2nd High | 197.62900 |
| Next High | 197.21100 |
| Current Price | 197.07900 |
| Next Low | 196.41900 |
| 2nd Low | 195.09600 |
| 3rd Low | 195.08500 |