GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
The bearish trend downwards to the next support at 197.01500 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 197.99900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 197.219 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 197.99900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94500 |
| Next High | 197.99900 |
| Current Price | 197.53300 |
| Next Low | 197.01500 |
| 2nd Low | 196.78300 |
| 3rd Low | 196.59900 |