FxWirePro: GBP/JPY struggles to break above trend line, good to sell on rallies
Major resistance- 140.05 (trend line joining 142.27 and 141.08). Major support – 138.50 (trend line joining 137.76 and 138.42). GBP/JPY has slightly recovered after making a low of 138.42 .It is currently trading around …
Major resistance- 140.05 (trend line joining 142.27 and 141.08).
Major support – 138.50 (trend line joining 137.76 and 138.42).
GBP/JPY has slightly recovered after making a low of 138.42 .It is currently trading around 139.41.
Short term trend is weak as long as resistance 140.05 holds.
Any break above targets 141.09/142.20 in the short term. The minor support stands at 139.07 and break below will drag the pair down till 138.40/137.75.
It is good to sell on rallies around 139.50-60 with SL around 140.05 for the TP of 138.50/137.75
