FX.co - GBP/JPY approaching resistance, potential drop!

2019-07-26T04:26:01

Long-term review

GBPJPY is approaching our first resistance where we are expecting a drop below this level.

Entry: 135.37

Why it's good : Horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 61.8% Fibonacci extension

Stop Loss : 135.89

Why it's good : Horizontal swing high resistance, 78.6% Fibonacci retracement

Take Profit : 134.31

Why it's good: 76.4% Fibonacci retracement, horizontal swing low support

GBP/JPY approaching resistance, potential drop!

*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 approaching resistance, potential drop!