208,55. GBP JPY is in an uptrend which support is 206,50 and resistance is 210,50. The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. 4H ForexSto (Modified Stochastic) crosses and gives a negative signal. The price should find a resistance below 209,60. The downtrend should continue to gather momentum.
=> We could take a short position at 208,60. We will put the stop loss above 209,70 (-110 pips). The targets are 207,50 (+110 pips) 206,50 (+210 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
209,30 - 209,60
208,40 - 207,50