FX.co - GBP/JPY is approaching its resistance, potential reversal!

2019-05-02T02:26:51

Relevance until2019-05-03

Price is approaching a key resistance at 145.73 where it could potentially reverse to its support.

Entry : 145.73

Why it's good : horizontal swing high resistance, 61.8% fibonacci retracement, 100% fibonacci extension

Stop Loss : 146.36

Why it's good : 78.6% Fibonacci retracement

Take Profit : 145.01

Why it's good : 38.2% fibonacci retracement, horizontal pullback support GBP/JPY is approaching its resistance, potential reversal!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ GBP/JPY is approaching its resistance, potential reversal!