FX.co ★ Daily Video Analysis: GBPJPY testing ascending trend line, potential for a bounce

GBPJPY is testing ascending trend line and also an overlap support level. Price could potentially make a bounce from here and see a short term recovery up to 1st resistance at 151.28 area. Our 2nd support is slightly beyond the market structure to protect our position and also positioned slightly below at 78.6% Fibonacci retracement.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully

understand the risks.