GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
A bearish movement down to the next support line at 196.59900 is considered certain.
Caution: A possible change in the direction of resistance at 198.94600 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 197.3455 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of resistance at 198.94600 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94600 |
| Current Price | 196.86900 |
| Next Low | 196.59900 |
| 2nd Low | 196.43900 |
| 3rd Low | 195.74500 |