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FxWirePro: GBP/JPY forms shooting star in daily chart, good to sell on rallies

Thursday, November 17, 2016 10:00 AM UTC

Candlestick pattern- Shooting star.
Major resistance- 136.86
GBP/JPY has made a high of 136.76 yesterday and started to decline from that level. The pair declined till 135 and started to jump from that level. It is currently trading at 136.43.
Short term trend is still weak as long resistance 138 holds.
On the higher side, major resistance is around 136.80 and any break above will take the pair till 138/138.85.

It is good to sell on rallies around 136.35-40 with SL around 138 for the TP of 135/134.10

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FxWirePro: GBP/JPY forms shooting star in daily chart, good to sell on rallies

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