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FxWirePro: Buy GBP/JPY on dips

Thursday, October 19, 2017 6:57 AM UTC

GBP/JPY has broken high of 149.26 after a week of consolidation and further weakness can be seen only below 146.94. It is currently trading around 149.28.
Any convincing break above high of 149.26 confirms minor bullishness, a jump till 150.24/151.60 is likely.
On the lower side, near term support is around 148.63 (34- 6H EMA) and any break below will drag the pair till 148.30 (6H Kijun-Sen)/147.89/146.95.
The pair formed a temporary top around 152.85 and any break above confirms bullish continuation.

It is good to buy on dips around 149.20-25 with SL around 148.60 for the TP of 150.24/151.57.

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FxWirePro: Buy GBP/JPY on dips

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