Major support – 145.30 (Trend line joining 138.67 and 139.20). GBP/JPY formed a minor bottom around 144.80 on Jul 31st 2017 and recovered slightly from that level. It has declined till 146.66. The pair is facing strong t…
Major support – 145.30 (Trend line joining 138.67 and 139.20).
GBP/JPY formed a minor bottom around 144.80 on Jul 31st 2017 and recovered slightly from that level. It has declined till 146.66.
The pair is facing strong trend line resistance around 146.75 (trend line joining 147.77 and 147.50) and any break above will take the pair till 147.60/148.10.
On the lower side, near term intraday support is around 145.25 and any break below will drag the pa ir down till 144.80/144.38 (55- day EMA). But it should break below 144.38 for minor weakness. Any break below 144.80 will drag the pair till 143/142.30.
It is good to buy on dips around 1456.35-40 with SL around 145.40 for the TP of 147.60/148.
