FxWirePro: GBP/JPY breaks trend line support, good to sell on rallies
Friday, March 3, 2017 7:30 AM UTC
- Major support -140.15 (trend line joining 138.85 and 139.58).
- Major resistance- 140.75
- GBPJPY is trading between 140.74 and 138.84 for the past three trading session. It is currently trading around 139.98.
- The pair has broken major intraday support around 140.15 and declined till 138.89 at the time of writing. Any break below trend line support will drag the pair down till 138.85/138.53 in the short term.
- On the higher side, any break above 140.75 will take the pair to next level till 141.78/142.05.
It is good to sell on rallies around 140.10-140.20 with SL around 140.75 for the TP of 138.85/138.53.
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