FX.co ★ GBPJPY holding above ascending trendline support! Bounce incoming!

Price holding above ascending trendline support. A further push up above 1st support at 150.642 towards recent swing high and 1st resistance at 151.265. Price is holding above moving average support as well.

Trading Recommendation

Entry: 150.642

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support, moving average support

Take Profit: 151.265

Reason for Take Profit:

Recent swing high

Stop Loss: 150.299

Reason for Stop Loss:

61.8% Fibonacci retracement