FX.co ★ GBPJPY facing bearish pressure

GBPJPY is reacting below 1st resistance of 152.901, in line with 78.6% Fibonacci extension. Prices are likely to fall to 1st support of 150.956, in line with 88.0% Fibonacci extension as well as 50.0% Fibonacci retracement . Alternatively, prices may rally to 2nd resistance of 154.025, in line with 127.2% Fibonacci retracement . Stochastic indicator supporting bearish bias.