The pair has greatly jumped around 250 pips today and is currently testing strong resistance at the price 145.5. If the price is going to break the 61.7% resistance then it might go up to around 147. On the other hand, if sellers were able to turn the direction of the trend then it will be heading below 140, hopefully.
As shown in the chart, the GBPJPY pair is struggling to break and STAY below the 68.2% Fibonacci level. This may be a chance for a 'long' entry as the 68.2% is a high support level.
Alternatively, if the pair has successfully dropped below 145.600 and closed 1 or 2 "4-hours candles" below this price then it might be a stop loss for the 'long' position and an...
GBPJPY pair has recently broken a support level of Fibonacci Retracement 50%. It is currently testing support at the level of 61.8% as shown in the chart. In case it broke the line of 61.8% then there is a big opportunity to keep on falling, but for a short term as the BOE is announcing interest rate decision in August. It is expected that the BOE will raise the...
