208,36. 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 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 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 208,60. We will put the stop loss above 209,80 (-120 pips). The targets are 206,60 (+200 pips) 204,20 (440 pips) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
208,80 - 209,50
208,20 - 207,00