GBPJPY testing resistance, potential drop!
GBPJPY is approaching our first resistance at 149.21 (horizontal swing high resistance, 38.2% Fibonacci retracement). A strong reaction might occur below this level pushing price down to our major support at 147.08 (horizontal swing low support, 76.4% Fiboancci retracement). A breakout below our intermediate support at 147.42 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) might provide the bearish acceleration to our major support level.
RSI is also seeing a short squeeze and is seeing a bearish divergence, in line with our bearish bias. A breakout below our support would be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI is also seeing a short squeeze and is seeing a bearish divergence, in line with our bearish bias. A breakout below our support would be a good precursor for a potential drop in price.
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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Come join us today at : easymarkets.com/
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.