142,31. GBP JPY broke 143,75 support. GBP JPY is in an downtrend directed by 4H exponential moving averages. The volatility is high. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The downtrend should continue to gather momentum.
=> We could take a short position at 142,35. We will put the stop loss above 144,00 (-165 pips). The targets are 140,00 (+235 pips, risk/reward 1:1.4), 138,80 (+355 pips, risk/reward 1:2.2) .
Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following):
3.
- Resistances
- 143,90 - 144,80
- Supports
- 141,60 - 140,75
