GBP/JPY has reached a re-occurring, strong resistance barrier and is likely to retrace back to previous support line of 137.100, Furthermore stochastics/RSI also show that it has been overbought and an bearish RSI divergence has been formed. Also a double top is being formed too, lots of negative stimulus for GBP - increasing likelihood for it to drop
GBPJPY
.
+Possible head & Shoulders formation in future too
GBPJPY
. +Possible head & Shoulders formation in future too