FxWirPro: GBP/JPY trades higher, good to buy on dips
Major support – 144 (55 EMA and trend line support). GBP/JPY has broken minor trend lien resistance at 145 and jumped sharply till 146.01 at the time of writing. It is currently trading around 145.89. On the higher side,…
Major support – 144 (55 EMA and trend line support).
GBP/JPY has broken minor trend lien resistance at 145 and jumped sharply till 146.01 at the time of writing. It is currently trading around 145.89.
On the higher side, minor resistance is around 145.86-146 (10- day MA and 50% retracement of 147.77 and 144.02) and any break above will take the pair till 146.40/147.10.
Any further bearishness can be seen only below 144 level. Any break below will drag the pair down till 143.20 (50% retracement of 138.67 and 147.77)/142.25 (100- day MA).
Overall bearish invalidation only above 148.11 level.
It is good to buy on dips around 145.20-145.25 with SL around 144 for the TP of 146.20/147.60
