GBPJPY is approaching support, potential bounce!

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GBPJPY is approaching our first support at 150.64 (horizontal overlap support, 38.2% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 152.17 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension).

Stochastic (89,5,3) is also bouncing off our major support which might be a good precursor for a potential rise in price.

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交易结束:到达目标
Wohooooo perfect rally up to our profit target! :) did you guys manage to get on this trade?
Chart PatternsForexforexsignalsforextradingGBPGBPJPYgbpjpylonggbpjpyshortHarmonic PatternsjpyTrend Analysis

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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