GBP/JPY has formed a minor bottom around 141.19 previous week and shown a good recovery from the low till 143.05 at the time of writing. It is currently trading around 143.16. The pair’s major resistance is around 143 hi…
GBP/JPY has formed a minor bottom around 141.19 previous week and shown a good recovery from the low till 143.05 at the time of writing. It is currently trading around 143.16.
The pair’s major resistance is around 143 high made on Sep 1st 2017 and any convincing break above will take the pair to next level till 144.66 (61.8% Fibo)/145.27 (Aug 8th high).
Overall bullish invalidation can be seen only below 139.30 low made on Aug 24th 2017.
The near term support is around 142.50 (34- day EMA) and any break below will drag the pair till 142.25 (daily Kijun-Sen)/141.19.
It is good to buy on dips around 143.05-143.10 with SL around 142.48 for the TP of 144.65/145.27.
