FxWirePro: GBP/JPY trend line breakout
Tuesday, July 31, 2018 7:45 AM UTC
- GBP/JPY has halted its weakness for a while and has shown a jump till 146.25. The pair has broken major intraday resistance 145.85-145.90 (100- H MA and trend line resistance) for intra day bullishness. Any convincing break above 146 will take the pair to next level till 146.52/146.80 (38.2% fib of 149.31 and 145.12)/147.20. Markets eyes super Thursday for further direction. It is trading around 146.25.
- On the lower side, near term support is around 145 and any break below will take the pair to next level till 144.35/143.
It is good to buy on dips around 145.95-146 with SL around 145.50 for the TP 147.20.
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