GBPJPY bounced nicely off its support, potential to rise further

3 Nis 2018

GBPJPY bounced nicely off its support at 148.484 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its 1st resistance at 149.271 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) or to its 2nd resistance at 149.685 (61.8% Fibonacci retracement, horizontal overlap resistance). We have also identified another support at 147.802 (100% Fibonacci extension x2, 78.6% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) made a corresponding bounce off its support at 6.9% where it has a lot of upside potential.

4 Nis 2018

İşlem kapandı: hedefe ulaştı

GBPJPY rose nicely to our major resistance! Hope you guys got in on this trade!