Price rise today stalled at the ceiling area
The GBPJPY moved up to a key technical level earlier in the day. At the high, the price was re-testing the old floor that became a ceiling at the end of February. That ceiling held. The price moved lower (see earlier post here).
The price has corrected back to the a break point from earlier today. That was defined by the 200 day MA and the 50% of the move down from the Feb 21 high. Like the ceiling, can this support level attract buyers? Risk can be defined. Risk can be limited.