GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 193.56200 will continue.
Caution: A possible counter-trend in the direction of resistance at 197.78100 could be enabled.
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. Current target is 194.712736 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 197.78100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 195.03100 |
| Next Low | 193.56200 |
| 2nd Low | 192.87700 |
| 3rd Low | 191.73000 |