GBPJPY Breaks A Five Year Support Level
An arguable double top has formed at the yellow line, which also indicates a 618 Fibonacci retracement level failed four times, showing strong supply or resistance. Targets 1 at 178.550, target 2 at 177.580, and target 3 at 176.800. Also waiting for a break of the RSI trend line to indicate the direction of sentiment.
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.