GBPJPY approaching resistance, potential drop!
Price is testing our first resistance at 148.91 (horizontal swing high resistance, 61.8% fibonacci extension, 50% fibonacci retracement, descending channel resistance) where a strong drop might occur pushing price down to our major support at 145.14 (61.8% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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