FxWirePro: GBP/JPY breaks major support at 137.50, targets 136.45
Major support – 137.50 (Mar 29th 2017 low). Major resistance – 140.10 GBPJPY broken the major support at 137.50 low formed on Mar 29th 2017 and declined till 137.21 level at the time of writing. It is currently trading a…
GBPJPY broken the major support at 137.50 low formed on Mar 29th 2017 and declined till 137.21 level at the time of writing. It is currently trading around 137.32.
Any break below 137.50 confirms further bearishness and decline till 136.45 is possible.
On the higher side , minor resistance is around 137.85 (hourly Tenken-Sen) and any break above targets 138.77 (200- H MA)/138.98 (61.8% retracement of 140.09 and 137.21).
Minor bearish invalidation only above 140.70.
It is good to sell on rallies around 137.35-137.40 with SL around 138 for the TP of 136.45.
