GBPJPY bounced nicely off its support, potential to rise further

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Brittiska pund/Japanska yen (FX:GBPJPY)

FX:GBPJPY Brittiska pund/Japanska yen

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GBPJPY tested its support at 150.58 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support, ascending support line) where it could potentially rise to its resistance at 152.19 (50% Fibonacci retracement, horizontal overlap resistance). If it surpasses this level, it could rise to its next resistance at 153.85 (100% Fibonacci extension, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) bounced off its support at 2.03% where it has a lot of upside potential.

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