USDJPY approaching major support, potential rise!

GBPUSD is testing its major support at 105.83 (78.6% Fibonacci retracement , horizontal overlap support). A strong reaction could occur at this level, pushing price up to our next major resistance at 106.41 (horizontal overlap resistance, 50% Fibonacci retracement , 61.8%, 100% Fibonacci extension ). A break out of the short term descending resistance line would provide further bullish confirmation.

RSI (55) is also approaching its long term ascending support line and we might see a corresponding rise in price should it bounce off this level.

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Resistance target reached perfectly guys! Did you manage to ride on this wave?