GBPJPY now right at resistance, watch for the potential reversal

Short

Sterlina / Yen giapponese (FX:GBPJPY)

FX:GBPJPY Sterlina / Yen giapponese

trendanalysis harmonicpatterns chartpattern gbpjpy gbp jpy forex ｆｘ eur aud btcusd cad

GBPJPY is now testing major resistance at 147.40 (Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 143.40 (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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