GBPJPY bounced nicely off its support, potential to rise further
GBPJPY bounced nicely off its support at 148.484 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its 1st resistance at 149.271 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) or to its 2nd resistance at 149.685 (61.8% Fibonacci retracement, horizontal overlap resistance). We have also identified another support at 147.802 (100% Fibonacci extension x2, 78.6% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) made a corresponding bounce off its support at 6.9% where it has a lot of upside potential.
Stochastic (89, 5, 3) made a corresponding bounce off its support at 6.9% where it has a lot of upside potential.
Trade closed: target reached
GBPJPY rose nicely to our major resistance! Hope you guys got in on this trade!
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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.