GBP/JPY has been in an uptrend following the Red ascending channel.
The price reached the upper trend line which intersects with the Key Resistance Level, and failed to break above it.
Due to this rejection / failure, I expect the price to fall until it reaches the next support level or until it touches the bottom red trend line.
This is also shown by the grey path drawn.
The price reached the upper trend line which intersects with the Key Resistance Level, and failed to break above it.
Due to this rejection / failure, I expect the price to fall until it reaches the next support level or until it touches the bottom red trend line.
This is also shown by the grey path drawn.