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FxWirePro:GBP/JPY faces strong resistance at 154.80, good to buy at dips

  • Major resistance – 154.80 (3 W EMA)
     
  • Minor support -153.25
     
  • The pair has jumped till 154.22 on Friday and declined from that level. It is currently trading around 153.34.
     
  • Short term trend is slightly weak as long as resistance 154.80 holds. Any break above 154.80 will take the pair till next level 155.80/157.10/158 in short term.
     
  • On the lower side major support is around 151.50 and break below targets 150/148.40.
     
  • Short term bearish invalidation only above 158 level.

It is good to buy at dips around 153.65-70 with SL around 153.25 for the TP of 154.80/155.80

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