Major resistance – 151.60 (trend line joining 153.40 and 152). GBP/JPY is consolidating within narrow range almost 80 pips for the past 7 days. The pair is trading between 152.01 and 151.19. It is currently trading aroun…
Major resistance – 151.60 (trend line joining 153.40 and 152).
GBP/JPY is consolidating within narrow range almost 80 pips for the past 7 days. The pair is trading between 152.01 and 151.19. It is currently trading around 151.45.
The pair should close convincingly above 151.65 (trend line resistance) for the next minor jump. Any close above 151.65 will take the pair to next level till 153/153.40. It should break above 153.40 for jump till 155/157.
The near term support is around 151.20 (55- 4H EMA) and any break below will drag the pair till 15045 (200- 4h EMA)/150.10.
It is good to buy above 152 with SL around 151 for the TP of 153.40/155.
