GBP/JPY – 30M – SELLThe currency pair jumps from the bullish trendline downwards
A descent downwards to the next support level at 195.36700 is considered certain.
Caution: A possible change in the direction of the resistance line at 198.36900 is also possible.
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 is considered certain. Target of the current trend is 196.391712 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 198.36900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.70900 |
| Next High | 198.36900 |
| Current Price | 197.24800 |
| Next Low | 195.36700 |
| 2nd Low | 195.09600 |
| 3rd Low | 195.08500 |