GBPJPY approaching support, potential rise!
GBJPY is approaching our first support at 149.13 (horizontal overlap support, 38.2%, 50% Fibonacci retracement) where price might potentially bounce above this level and rise to our first resistance at 149.95 (horizontal overlap resistance, 50% Fibonacci retracement). A breakout above this level might push price up to our second resistance at 150.64 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also testing our ascending support where we might see a corresponding rise in price should it bounce off this level.
RSI (89) is also testing our ascending support where we might see a corresponding rise in price should it bounce off this level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.