214,65. 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 high. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 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 214,70. We will put the stop loss above 215,70 (-100 pips). The targets are 213,00 (+170 pips) 212,50 (+220 pips) 211,50 (+320 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
215,10 - 216,15
213,70 - 213,00