FX.co ★ GBP/JPY Reversed Nicely Off Resistance, Remain Bearish

GBP/JPY reversed off its resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 147.14 (horizontal swing low support)

Stochastic (89, 5, 3) is reversed off its resistance at 96% where it has a lot of corresponding downside potential.

Sell 149.20. Stop loss at 150.01. Take profit at 147.14.