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British Pound / Japanese Yen
Long

Lookout for a potential bounce on weakness!

By ICmarkets
Broker
Updated
GBPJPY bounced nicely off its support at 148.888 (61.8% Fibonacci extension x2, 61.8% Fibonacci retracement) where it could potentially rise to its 1st resistance at 150.485 (51.8% Fibonacci extension, Elliot wave structure, multiple swing high resistance) or to its 2nd resistance at 150.947 (100% Fibonacci extension, horizontal swing high resistance). We have also identified another support at 147.769 (100% Fibonacci extension).

Stochastic (21, 5, 3) bounced nicely off its support at 9.87% where a corresponding rise could occur.
Trade closed: target reached
Nice, GBPJPY reached our 1st resistance!
Bitcoin (Cryptocurrency)Chart PatternsForexforexsignalsGBPGBPJPYgbpjpylonggbpjpyshortHarmonic PatternsjpyTrend Analysis
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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