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GBPJPY: ⬇️ Sell
– GBPJPY reversed from resistance zone
– Likely to fall to support level 198.00
GBPJPY currency pair recently reversed up from the resistance zone located between the long-term resistance level 200.00 (which has been reversing the price from October of 2024) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the earlier impulse wave iii of the intermediate wave (3) from the end of May.
Given the overbought daily Stochastic, GBPJPY currency pair can be expected to fall to the next support level 198.00.
Source: https://fxpro.news
