GBPJPY approaching support, potential rise!
GBJPY is approaching our first support at 149.13 (horizontal overlap support, 38.2%, 50% Fibonacci retracement) where price might potentially bounce above this level and rise to our first resistance at 149.95 (horizontal overlap resistance, 50% Fibonacci retracement). A breakout above this level might push price up to our second resistance at 150.64 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also testing our ascending support where we might see a corresponding rise in price should it bounce off this level.
RSI (89) is also testing our ascending support where we might see a corresponding rise in price should it bounce off this level.
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