easyMarkets
Short

GBPJPY under bearish pressure, potential for reversal

FX:GBPJPY   British Pound / Japanese Yen
Price is approaching our first resistance (horizontal swing high resistance, 23.6% Fibonacci retracement , 61.8% Fibonacci extension ) where we might see a corresponding drop to our first support level (horizontal swing low support).
Ichimoku cloud is also showing signs of bearish pressure, where we 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.
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