Tickmill
Short

GBPJPY approaching resistance, potential drop!

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY is approaching our first resistance at 148.39 (long term descending resistance line, 100% Fibonacci extension , 61.8%, 50% Fibonacci retracement ) and a strong drop might occur below this level pushing price down to our major support at 145.59 (horizontal pullback support, 38.2%, 50% Fibonacci retracement ).
Stochastic (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out