198,19. GBP JPY broke 196,60 resistance. GBP JPY is in an downtrend directed by 4H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility rises. Bollinger bands are deviated. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP JPY. 4H ForexSto (Modified Stochastic) crosses and gives a positive signal. The consolidation should continue. The price should find a resistance below 199,00. We won't take a position. The risk/reward ratio is too high to take a position..
199,00 - 199,70
196,60 - 195,00