empty
 
 

12.05.202107:44 Analytische Bewertungen Forex: GBPJPY reacting below descending trendline resistance! Drop incoming!

Exchange Rates 12.05.2021 analysis

GBPJPY reacting below descending trendline resistance. A drop below 1st resistance at 153.752 towards 1st support at 153.347 could be possible. Stochastic is testing resistance where price reacted in the past as well.

Trading Recommendation

Entry: 153.752

Reason for Entry:

78.6% Fibonacci retracement, descending trendline resistance

Take Profit: 153.347

Reason for Take Profit:

-61.8% and 23.6% Fibonacci retracement.

Stop Loss: 154.024

Reason for Stop Loss:

Graphical swing high

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Dean Leo
InstaForex © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Können Sie momentan nicht telefonieren?
Dann stellen Sie Ihre Frage im Chat.