GBP/JPY Approaching Support, Prepare For A Bounce!

GBP/JPY is approaching its ascending support line at 144.98 (61.8% Fibonacci extension, 76.4% & 78.6% Fibonacci retracement, horizontal swing low support) where we expect the price to bounce up from there, to its resistance at 146.60 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) is approaching its corresponding ascending support line where we expect to see a similar bounce.

Buy above 144.98. Stop loss at 144.24. Take profit at 146.60.

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