FxWirePro: GBP/JPY breaks major resistance at 155.85, target 158
GBP/JPY has shown a huge jump after forming a bottom at 151.97 on Jan 30th 2018. The pair recovered sharply almost more than 300 pips. It is currently trading around 156.14. Intraday trend is bearish as long as resistanc…
GBP/JPY has shown a huge jump after forming a bottom at 151.97 on Jan 30th 2018. The pair recovered sharply almost more than 300 pips. It is currently trading around 156.14.
Intraday trend is bearish as long as resistance 155 holds.
On the lower side, minor support is around 155.25 (23.6% fibo) and any break below will drag the pair to next level till 155/154.60/154.08/153. Major weakness can be seen below 151.95.
The near term resistance is around 156.10 and any break above will take the pair to next level till 157/158.
It is good to buy on dips around 155.85-90 with SL around 155 for the TP of 157/158.
