FxWirePro: GBP/JPY forms long legged doji, break below 150.25 confirms minor weakness
GBP/JPY is trading extremely bullish after Trump’s tweet on trade war on China. The pair jumped almost more than 125 pips after easing trade war worries. The increase in risk appetite has dragged safe haven assets like y…
GBP/JPY is trading extremely bullish after Trump’s tweet on trade war on China. The pair jumped almost more than 125 pips after easing trade war worries. The increase in risk appetite has dragged safe haven assets like yen and gold. The pair has closed slightly above 150 and is currently trading around 150.06.
The major resistance is around 150.70 (trend line resistance) and any break above targets 150.95/151.50. The major trend reversal only above 150.95.
On the lower side, near term support is around 150.25 and any close below will drag the pair till 148.40/147.70.
It is good to sell on ralleis 150.25-30 with SL around 150.70 for the TP of 149.40/148.80.
