GBPJPY reversed nicely off its resistance at 149.372 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance) where it could potentially drop to its 1st support at 146.167 (L T 61.8% Fibonacci retracement , 76.4% Fibonacci retracement ) or to its 2nd support at 145.140 (Horizontal overlap support). We have also identified another resistance at 150.938 (61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance).
Stochastic (89, 5, 3) shows a corresponding reversal off its resistance at 97.89% where it has a lot of downside potential.
Stochastic (89, 5, 3) shows a corresponding reversal off its resistance at 97.89% where it has a lot of downside potential.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.