GBPJPY still testing major resistance, watch for the reversal!
GBPJPY is forming a nice reversal setup at 147.95 (Fibonacci extension, Elliott wave structure, bearish divergence) and a strong reaction could occur at this level to push prices all the way down to major support at 146.15 (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal could be impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal could be impending.
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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