GBPJPY declined slightly after hitting high of 142.90. The pair hits low of 142.39 for the intraday. It is currently trading around 142.22. The downside is capped by minor trend line support at 142.30 (trend line joining…
GBPJPY declined slightly after hitting high of 142.90. The pair hits low of 142.39 for the intraday. It is currently trading around 142.22.
The downside is capped by minor trend line support at 142.30 (trend line joining 141.56 and 141.80) and any break below will drag the pair down till 142.05 (23.6% retracement of 139.30 and 142.90)/141.40 (100- HMA).Minor bearishness can be seen below 141.40.
On the higher side, major resistance is around 143.20 and any break above will take the pair till 144/145. Overall bearish invalidation only above 148.11.
It is good to buy on dips around 142.15-142.20 with SL around 141.50 for the TP of 144/145.
