FX.co ★ GBP/JPY Approaching Support, Prepare For A Bounce!

GBP/JPY is approaching its support at 147.03 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support) where we expect the price to rise to its resistance at 148.96 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 2.11% where a corresponding bounce is expected.

Buy above 147.03. Stop loss 146.05. Take profit at 148.96.