GBPJPY holding above long term descending trendline. A bounce above 1st support at 150.406 towards recent swing high and 1st resistance at 150.973 could be possible. RSI reacting above support where price bounced in the past as well.
Reason for Entry:
50% Fibonacci retracement, Ascending trendline support
Take Profit: 150.973
Reason for Take Profit:
-27.20% and 50% Fibonacci retracement
Stop Loss: 150.047
Reason for Stop Loss:
Graphical swing low
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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