GBP/JPY has recovered sharply almost 200 pips from the low of 150.19. The pair jumped till 152.71 and is currently trading around 152.28. Intraday bias is bullish as long as support 151.85. The pair formed almost a doubl…
GBP/JPY has recovered sharply almost 200 pips from the low of 150.19. The pair jumped till 152.71 and is currently trading around 152.28.
Intraday bias is bullish as long as support 151.85. The pair formed almost a double top at 153.60 and any further bullishness only above that level.
The pair has taken support near major trend line on Friday and shown a major jump. The near term support is around 151.85 (4H Kijun-Sen) and any break below 151.85 will drag the pair to next level till 151.30 (200- 4H E MA)/150.95. Short term bearishness only below 150.20.
The major resistance is around 152.70 and any break above will take the pair till 153/153.60. Further bullishness only above 153.60.
It is good to buy on dips around 152 with SL around 151.30 for the TP of 153.60.
