GBPJPY dropped perfectly, potential for further bearish movement
GBPJPY has dropped really nicely and is now below our major support-turned-resistance line at 148.43 (Fibonacci retracement, horizontal overlap resistance). There is strong bearish momentum as we have broken out of our ascending support line and also remain below our bearish Ichimoku cloud. Our next major support is at 147.14 (Fibonacci extension, horizontal swing low support).
RSI (89) sees a very clean break of our ascending support line which forecasted the drop in price really well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) sees a very clean break of our ascending support line which forecasted the drop in price really well.
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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