GBPJPY facing bullish pressure, potential for further upside
Prices are currently holding above the ascending trendline support. Prices might pullback to the 1st support which coincides with 78.6% Fibonacci extension and 50% retracement . Prices might push up towards the 1st resistance level which coincides with 161.8% Fibonacci retracement and 61.8% Fibonacci confluence area. If prices fall through ascending trend line support, prices might reach 2nd support level which coincides with 78.6% Fibonacci retracement . Prices is also holding nicely above Ichimoku cloud which shows a bullish pressure for prices.
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