GBPJPY Has been making a serie of LHs materialized by the descending trendline connecting the previous highs. the pair is actually testing this line for the 3rd time, showing some indecision candlesticks on the last 2 days trading session showing a deceleration of upside movement.
It also important to take in consideration that the 3rd touch where we actually are is the 61.8% fib retracement of the previous downside movement from the precedent high point at 147.000.
From that point, my bias is bearish on the pair and i expect it to fall to the support zone at 144.000 in the first time and if it breaks, the ideal target price projection is 143.000 which is in alignment with 127.2% fib extension.
SAFE Trading!
It also important to take in consideration that the 3rd touch where we actually are is the 61.8% fib retracement of the previous downside movement from the precedent high point at 147.000.
From that point, my bias is bearish on the pair and i expect it to fall to the support zone at 144.000 in the first time and if it breaks, the ideal target price projection is 143.000 which is in alignment with 127.2% fib extension.
SAFE Trading!
Strong Break of the descending trend line indicating that the bulls are now on control. I'll be looking for bullish opportunities for the next sessions