214,57. 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 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 215,60. The downtrend should continue to gather momentum.
=> We could take a short position at 214,80. We will put the stop loss above 215,60 (-80 pips). The targets are 213,70 (+110 pips) 212,50 (+230 pips) 211,40 (+340 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
215,60 - 217,40
213,70 - 212,50