FxWirePro: GBP/JPY breaks major support at 138.85, decline till 136.50 likely
Major support -138.85 Major intraday resistance- 140.30 (100- day EMA). GBPJPY has broken the low made on Feb 28th 2017 yesterday and declined till 138.72. It is currently trading around 138.73. The pair should close abo…
GBPJPY has broken the low made on Feb 28th 2017 yesterday and declined till 138.72. It is currently trading around 138.73.
The pair should close above trend line resistance of 140.60 for further bullishness. Any break above 140.75 will take the pair till 141.25/141.77 (Feb 24th 2017 high)/142.05 in the short term. Major intraday resistance is around 140.30.
On the lower side, any break below 138.85 will take the pair to next level till 138/136.45.
It is good to sell on rallies around 139.35-139.40 with SL around 140.30 for the TP of 138.50/136.50.
