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GBPJPY may drop further to its 1st support!

Short
British Pound / Japanese Yen (FX:GBPJPY)  
ICmarkets Broker  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns GBPJPY GBP jpy gbpjpyshort gbpjpylong Forex forexsignals Bitcoin (Cryptocurrency) Cryptocurrency
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trendanalysis harmonicpatterns chartpattern gbpjpy gbp jpy gbpjpyshort gbpjpylong forex forexsignals bitcoin cryptocurrency
GBPJPY tested its resistance at 149.372 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance) where it has the potential to drop it its 1st support at 146.167 (L T 61.8% Fibonacci retracement , 76.4% Fibonacci retracement ). We have also identified another resistance at 150.938 (61.8% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance). A short term ascending support turned resistance has also been identified.

Stochastic (89, 5, 3) shows how it reversed off its resistance at 97.89% where it still has a lot of downside potential.
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