FxWirePro: GBP/JPY consolidates in narrow range, good to buy on dips
Major resistance – 151.60 (trend line joining 153.40 and 152). GBP/JPY has jumped slightly after breaking trend line resistance. The pair hits high of 152.08 and is currently trading around 151.67. The pair should close …
Major resistance – 151.60 (trend line joining 153.40 and 152).
GBP/JPY has jumped slightly after breaking trend line resistance. The pair hits high of 152.08 and is currently trading around 151.67.
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 151.27 (100- 4H EMA) and any break below will drag the pair till 150.53 (200- 4h EMA)/150.10.
It is good to buy on dips around 151.55-60 with SL around 151 for the TP of 153.40/155.
