GBP/JPY testing resistance, potential reversal

Exchange Rates 08.06.2020 analysis

Trading Recommendation

Entry: 140.810

Reason for Entry: horizontal overlap resistance, 100% fibonacci extension and 78.6% fibonacci retracement

Take Profit: 135.753

Reason for Take Profit: horizontal pullback support and 38.2% fibonacci retracement

Stop Loss: 143.060

Reason for Take Profit: 88.6% fibonacci retracement

Source: GBP/JPY testing resistance, potential reversal

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