GBPJPY bounced nicely off its support, potential to rise!

2 апр. 2018 г.

GBPJPY bounced nicely off its support at 148.901 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its 1st resistance at 149.857 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). If it surpasses this level, it could rise to its 2nd resistance at 150.582 (100% Fibonacci extension, horizontal swing high resistance). We have also identified another support at 148.458 (78.6% Fibonacci retracement).

Stochastic (89, 5, 3) made a corresponding bounce off its support at 6.15% where it has a lot of upside potential.