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British Pound / Japanese Yen
Long

GBPJPY is facing bullish pressure | 19th Jule 2021

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GBPJPY is facing bullish pressure and is holding above horizontal swing low support, in line with 161.8% Fibonacci retracement and 100% Fibonacci extension. We expect prices to increase to horizontal overlap resistance, in line with 161.8% Fibonacci extension. Alternatively, if prices break below horizontal swing low support, it may face support at Fibonacci confluence area, in line with 127.2% Fibonacci retracement and 161.8% Fibonacci extension. Moreover, stochastic is approaching support at 6.60, further supporting our bullish view.
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Chart PatternsGBPGBPJPYHarmonic PatternsjpyTrend Analysis

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Chart PatternsGBPGBPJPYHarmonic PatternsjpyTrend Analysis
FXCM
Broker
Follow and Trade this analysis from your Charts. FXCM now Integrated with TradingView. Contact FXCM for more information.
Also on:

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.