GBP/JPY has declined slightly after hitting high of 154.58 yesterday. The pair dipped till 153.74 and shown a minor jump from the level. It is currently trading around 153.61. Intraday bias is bullish as long as support …
GBP/JPY has declined slightly after hitting high of 154.58 yesterday. The pair dipped till 153.74 and shown a minor jump from the level. It is currently trading around 153.61.
Intraday bias is bullish as long as support 153.25 holds. The pair has broken double top formed at 153.61 and this confirms minor bullishness.
The pair is facing major support at 153.70 (resistance turned into support) and any break below will drag the pair to next level till 153.25 (4H Kijun-Sen)/152.70 (55- 4H EMA)/152.08). Short term bullish invalidation is only below 150.80.
The major resistance is around 154.60 and any break above will take the pair till 155/155.84 (161.8% fibo).
It is good to buy on dips around 153 with SL around 152 for the TP of 155/155.80.
