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.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.