$GBPJPY potential reaction zone 20 Feb 2013

So, big sell off of GBP. There are loads of retracement levels for GBP crosses. I am taking GBPJPY to show potential reaction zone.

M30 – Around 143.90 zone. A retest of previous support turned resistance, with confluence of supply line, and the base of sell off. This zone should provide some reactions.

M30

M30

M5- Detailed look into price action. Expect compression or pattern such as triple tap into reaction zone.

M5

M5

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