Forex Analysis & Reviews: GBPJPY reacting below descending trendline resistance! Drop incoming!

GBPJPY reacting below descending trendline resistance. A drop below 1st resistance at 153.752 towards 1st support at 153.347 could be possible. Stochastic is testing resistance where price reacted in the past as well.

Trading Recommendation
Entry: 153.752
Reason for Entry:
78.6% Fibonacci retracement, descending trendline resistance
Take Profit: 153.347
Reason for Take Profit:
-61.8% and 23.6% Fibonacci retracement.
Stop Loss: 154.024
Reason for Stop Loss:
Graphical swing high

Analysis are provided by InstaForex