GBPJPY approaching resistance, potential drop!
GBPJPY is approaching our first resistance at 148.20 (horizontal overlap resistance, 50%, 76.4% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 146.25 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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