216,05. GBP JPY is in an downtrend directed by 1H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The price should find a resistance below 216,60. The downtrend should continue to gather momentum.
=> We could take a short position at 216,10. We will put the stop loss above 216,80 (-70 pips). The targets are 214,00 (+210 pips) 212,50 (+360 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
216,60 - 218,40
214,00 - 212,50