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Gbjpyshort

GBJPY approaching resistance, potential reversal!GBPJPY is approaching resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where it could potentially react off, causing price to fall to its support at 147.16 (horizontal swing low support). We do have to be cautious of the intermediate support at 147.62 (76.4% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction could occur.
by ICmarkets
GBPJPY H4 SELL SETUPGBPJPY has been turning bullish for the last few weeks, with impulse up as wave A) shown on the daily chart which means that market is in a bigger three wave recovery which is expected to resume after wave B) pullback, that can be as of current price activity completed. We are specifically talking about the new bounce, that occurred the past week, from around the 136.50 level. On the 4h chart, this rally is seen as a minor impulsive wave one. That said a break above the wave A swing level at 142.14 would suggest higher levels to follow.
Short
by Priceaction_World