Today we take a look at GBPJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
GBPJPY holding below descending trendline resistance. A further drop below 1st resistance at 152.268 towards graphical swing low support and 1st support at 151.616 could be possible. Stochastic is also holding below descending trendline resistance where price pulled back in the past as well.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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