GBP/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 204.596 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 206.852 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 206.852 |
| Current Price | 205.60300 |
| Next Low | 204.284 |
| 2nd Low | 203.975 |
| 3rd Low | 203.69 |
206.852 – 205.364 – 204.737 – 204.284 – 203.975 – 203.69 —
205.18400 – 205.67400 —
49.11326237224 – 60.301282286419 —
– —
206.85200 – 1763654400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Double bottom retreat down – – – – – – – –