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Add as a preferred source on Google FxWirePro: GBP/JPY downside capped by trend line support, good to buy on dips GBP/JPY has taken support near trend line and jumped slightly from that level. The pair hits low of 139.84 and is currently trading around 141.45. The pair downside is capped by trend line support at 140 (trend line join…
By FxWirePro Team Jun 23, 2017, 7:21 AM UTC
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GBP/JPY has taken support near trend line and jumped slightly from that level. The pair hits low of 139.84 and is currently trading around 141.45.
The pair downside is capped by trend line support at 140 (trend line joining 138.67 and 139.19) and any minor weakness can be seen below that level.
GBP recovered slightly against all major pair after BOE chief economist Andy Haldane backs interest rate hike.
On the higher side, any break above 142 will take the pair till 142.54/143.17 (200 4H MA)/143.95.
Short term bullish invalidation only below 138.50.
It is good to buy on dips around 141.25-142.30 with 140.47 for the TP of 142.54/143.17.
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