GBJPY approaching support, potential bounce!
GBPJPY is approaching our first support at 149.17 (horizontal pullback support, 23.6% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 150.63 (horizontal overlap resistance, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (34) is also seeing a bullish exit where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also seeing a bullish exit where we might see a corresponding rise in price.
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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