GBPJPY Testing Resistance, Prepare for a Reversal

5 Nis 2018Price is testing its resistance at 150.600 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect a reversal, pushing price down to its support at 149.681 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is at resistance at 97.8% where we expect to see a corresponding reaction.