Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY consolidates above trend line resistance, good to buy on dips

  • Major resistance – 152.09 (Dec 27th 2017 high).
     
  • GBP/JPY has jumped slightly after breaking trend line resistance. The pair hits high of 152.08 and is currently trading around 152.09.
     
  • The pair should close convincingly above 152 for the next minor jump. Any close above 152 will take the pair to next level till 153/153.40. It should break above 153.40 for jump till 155/157.
     
  • The near term support is around 151.40 (55- 4H EMA) and any break below will drag the pair till 151.27 (100- 4H MA)/150.58 (200- 4h EMA)/150.10.

It is good to buy on dips around 151.90-95 with SL around 151.50 for the TP of 153.40/155.

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.