204,80. GBP JPY is in an downtrend directed by 1H exponential moving averages. 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 205,00. The downtrend should continue to gather momentum. The target is expected at 199,00 (575 pips).
205,00 - 206,00
204,00 - 203,50