GBJPY approaching resistance, potential reversal!
GBPJPY is approaching resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where it could potentially react off, causing price to fall to its support at 147.16 (horizontal swing low support). We do have to be cautious of the intermediate support at 147.62 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
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