Minor Trend line resistance – 149.20 (trend line joining 150 and 149.56). GBP/JPY recovered slightly after forming a minor bottom around 148.15. The pair broken minor trend line resistance 149.20 and jumped till 149.45. …
Minor Trend line resistance – 149.20 (trend line joining 150 and 149.56).
GBP/JPY recovered slightly after forming a minor bottom around 148.15. The pair broken minor trend line resistance 149.20 and jumped till 149.45. It is currently trading around 149.41.
Short term trend is still bullish as long as support 148 holds. Any minor weakness only below 148 level.
The near term resistance is around 150 and any break above will take the pair to next level till 151/151.60. Overall bearish invalidation only above 152.86.
The near term major support is around 148 and any break below will drag the pair down till 147/145.95.
It is good to buy on dips around 149.15-20 with SL around 148.60 for the TP of 150.35/151.
