JohnnyPurtoy98

GBPJPY - meeting a strong support level

FX:GBPJPY   British Pound / Japanese Yen
It looks like this pair has managed to breakout the lower end of the ascending triangle . It looks like the price has now reached a long standing strong support, it would be interesting to see if the price has got enough bearish momentum to break this support. The RSI is currently at an oversold level as the price moves and touches the support level , this indicates that the price may move upwards. I believe the market would range for a while, keep an eye out for the support or resistance level breaking.
A nice rebound past 147 would be nice, but I think that's for next week.
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@Dimerz, Yeah I agree, we should hopefully see bullish moves next week if this support line holds.
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