FxWirePro: GBP/JPY breaks major resistance at 153, jump till 155 likely
Major Resistance – 153 GBP/JPY jumped sharply almost more than 200 pips yesterday on positive Brexit talks. The Brexit negotiations is going on smoothly and first phase is going to complete. The major issue Irish border …
GBP/JPY jumped sharply almost more than 200 pips yesterday on positive Brexit talks. The Brexit negotiations is going on smoothly and first phase is going to complete. The major issue Irish border is solved with UK PM Theresa May new proposal. The pair has broken major resistance 153 and jumped till 153.27 and is currently trading around 152.95.
The pair has declined till 149.76 and any minor trend reversal can be seen only below 149.75. The minor support is around 151.50 (4H Kijun-Sen) and any break below will drag the pair to next level till 150.40149.75.It should break below 149.75 for the decline till 147.
GBP/JPY has broken major resistance 153 and this confirms minor bullishness, a jump till 154/154.69 (161.8% fibo)/ 155.
It is good to buy on dips around 152.55-60 with SL around 151.50 for the TP of 154/154.69.
