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GBPJPY testing major resistance, potential drop!

Short
British Pound / Japanese Yen (FX:GBPJPY)  
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FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns GBPJPY gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpydaily gbpjpyforecast gbpjpybuy gbpjpytrade
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trendanalysis harmonicpatterns chartpattern gbpjpy gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpydaily gbpjpyforecast gbpjpybuy gbpjpytrade
GBPJPY is testing major resistance at 149.18 (Fibonacci retracement, bearish divergence, horizontal overlap resistance) and a strong drop could occur at this level to push price all the way down to major support at 147.50 (Fibonacci retracement, horizontal swing low support, Fibonacci extension).
Stochastic (89,5,3) is also seeing major resistance below 96% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a strong reversal could be approaching.
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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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