GBPJPY is approaching resistance, potential drop!
GBPJPY is approaching our first resistance at 149.23 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 147.11 (horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Stochastic (55,5,3) is also approaching resistance where a reaction off this level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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