GBPJPY reversed off its resistance at 148.455 (61.8% & 100% Fibonacci extension, horizontal swing high resistance) where it is could drop further to its support at 146.78 (50% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) reversed off near its resistance. A bearish divergence with price has also been identified.
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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.
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