GBP/JPY Approaching Resistance, Prepare For a Reversal

Source: Forex Analysis

GBP/JPY is approaching its resistance at 153.90 (76.4% Fibonacci retracement, multiple swing high resistance) where we expect prices to fall to its support at 152.13 (23.6% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its resistance at 98% where we expect to see a similar reversal.

Sell below 153.90. Stop loss at 154.57. Take profit at 152.13.

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