Description :
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.
Trading Recommendation
Entry: 152.268
Reason for Entry:
Graphical swing high resistance, descending trendline resistance
Take Profit: 151.616
Reason for Take Profit:
76.4% Fibonacci extension, Graphical swing low support
Stop Loss: 152.653
Reason for Stop Loss:
Graphical swing resistance
