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FX.co ★ Daily Video Analysis: GBPJPY testing ascending trend line, potential for a bounce

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Forex Analysis:::2021-08-20T08:20:51

Daily Video Analysis: GBPJPY testing ascending trend line, potential for a bounce

GBPJPY is testing ascending trend line and also an overlap support level. Price could potentially make a bounce from here and see a short term recovery up to 1st resistance at 151.28 area. Our 2nd support is slightly beyond the market structure to protect our position and also positioned slightly below at 78.6% Fibonacci retracement.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully

understand the risks.

Analyst InstaForex
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