210,40. 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 is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The price should find a resistance below 212,00. The downtrend should continue to gather momentum.
=> We could take a short position at 210,50. We will put the stop loss above 212,00 (-150 pips). The targets are 208,00 (+250 pips) 206,50 (+400 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
211,00 - 212,00
209,70 - 208,00