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GBPJPY dropping perfectly as expected, potential for further dro
GBPJPY has dropped nicely from our major resistance and has broken below support-turned-resistance line at 149.12 (horizontal overlap resistance, Fibonacci retracement). However, we’re seeing intermediate ascending support that needs to be broken to trigger a bearish acceleration downwards towards 148.38 before 147.14 major support (Fibonacci extension, horizontal swing low support).
RSI (89) has made a bearish exit which is a precursor that price might similarly break its ascending support.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) has made a bearish exit which is a precursor that price might similarly break its ascending support.
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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