211,65. 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 low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 212,10. The downtrend should continue to gather momentum.
=> We could take a short position at 211,60. We will put the stop loss above 212,20 (-60 pips). The targets are 210,50 (+110 pips) 210,00 (+160 pips) 209,00 (+260 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
212,10 - 213,90
Supports
210,80 - 210,00