GBPJPY - DOWNTREND
General Direction: The general direction of the GBP/JPY currency pair appears to be bearish, as evidenced by the series of lower highs and lower lows on the chart.
Downtrend Side: The price is currently below the resistance levels of 199.211 and 197.639. The price has consistently been making lower highs and lower lows, indicating a strong downtrend toward 196.747. The chart shows significant bearish momentum as the price continues to move downward toward the support zones. Also, any break under 196.747 easily touches 196.009 and 194.667.
Uptrend Side: There is potential for a reversal if the price breaks above the resistance level of 199.211. A break above this resistance level could see the price moving up to the consolidation zone or even higher toward the next resistance level, which is 200.596.
Tendency Keys: 197.639
Downtrend Side: The price is currently below the resistance levels of 199.211 and 197.639. The price has consistently been making lower highs and lower lows, indicating a strong downtrend toward 196.747. The chart shows significant bearish momentum as the price continues to move downward toward the support zones. Also, any break under 196.747 easily touches 196.009 and 194.667.
Uptrend Side: There is potential for a reversal if the price breaks above the resistance level of 199.211. A break above this resistance level could see the price moving up to the consolidation zone or even higher toward the next resistance level, which is 200.596.
Tendency Keys: 197.639
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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