FxWirePro: GBP/JPY struggles to break above trend line resistance, good to sell on rallies
Major support -138.85 Major resistance- 140.45 (trend lien joining 141.77 and 140.75) GBPJPY has once again declined after hitting trend line resistance at 140.50. It is currently trading around 139.37. The pair should c…
Major resistance- 140.45 (trend lien joining 141.77 and 140.75)
GBPJPY has once again declined after hitting trend line resistance at 140.50. It is currently trading around 139.37.
The pair should close above trend line resistance of 140.50 for further bullishness. Any break above 140.50 will take the pair till 141.25/141.77 (Feb 24th 2017 high)/142.05 in the short term.
On the lower side, any break below 138.85 will take the pair to next level till 138/136.45.
It is good to sell on rallies around 139.60-139.70 with SL around 140.50 for the TP of 138.50/136.50.
