Thursday, October 15, 2026

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FxWirePro: GBP/JPY faces strong resistance at 140, good to sell on rallies

Major resistance- 140 The pair has recovered sharply after making a low of 135.96. It is currently trading around 138.06. Short term trend is slightly bearish as long as resistance 140 holds. Any indicative break above 1…

By FxWire Pro
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FxWirePro: GBP/JPY faces strong resistance at 140, good to sell on rallies
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  • Major resistance- 140
     
  • The pair has recovered sharply after making a low of 135.96. It is currently trading around  138.06.
     
  • Short term trend is slightly bearish as long as resistance 140 holds.
     
  • Any indicative break above 140 will take the pair to next level till 141.09/142.30 in the short term.
     
  • On the lower side, any break below 137.80 will drag the pair till 137.30/135.96.
     
  • Overall bearish invalidation only above 143.25.

It is good to sell on rallies around 139.20 with SL around 140 for the TP of 1437.80/136.

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