GBP/JPY – 4H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A descent downwards to the next support line at 194.18900 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 198.94600 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 194.77 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 198.94600 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.94600 |
| Current Price | 195.53700 |
| Next Low | 194.18900 |
| 2nd Low | 194.05400 |
| 3rd Low | 192.85100 |