Levels of resistance for further selling of GBPJPY
Price is currently at the 55 EMA/ 140.50. Stoch indicates further bearishness with the target for the month at 138.50
Price has passed the bearish target for the week with the monthly target 100 pips below WS3. At the time or writing this price continues to move lower. Should price pull back from current daily 55 support/ 140.50 resistance is eyed at 141, 141.50 and the zone between 142 and 143. Also pay attention to the H4 21 - currently in the zone between 142 and 143.
141 marks role reversal DM2, 141.50 is where the 21 is currently located though this will have moved lower before London open, 142 marks DPP, 142.50 marks the 61.8% fib of the recent bearish move/ role reversal of previous support and 143 marks the 78.6% fib.
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“Many shall be restored that now are fallen, and many shall fall that now are in honor.” HORACE—ARS POETICA