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GBPJPY dropped perfectly, potential for further bearish movement

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Brittiska pund/Japanska yen (FX:GBPJPY)  
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FX:GBPJPY   Brittiska pund/Japanska yen
Trend Analysis Harmonic Patterns Chart Patterns GBPJPY GBP jpy gbpjpylong gbpjpyshort Forex forextrading
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trendanalysis harmonicpatterns chartpattern gbpjpy gbp jpy gbpjpylong gbpjpyshort forex forextrading
GBPJPY dropped perfectly from our resistance and has reacted off our first resistance at 148.43 (horizontal overlap resistance) and a strong reaction might occur causing price to drop to our major support at 147.14 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also seeing a bearish exit which support our bearish bias.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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