GBPJPY approaching resistance, potential drop!
GBPJPY is approaching our first resistance at 145.45 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100 Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 142.84 (horizontal swing low support, 50% Fibonacci retracement).
Stochastics (89,5,3) is also reacting off resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastics (89,5,3) is also reacting off resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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.