FxWirePro: GBP/JPY trades above trend line resistance, jump till 144 likely
GBPJPY broken trend line resistance at 141.25 (trend line joining 143.19 and 141.40) and jumped till 142.03 yesterday. The pair has close well above trend line resistance and is currently trading around 141.89. The pair …
GBPJPY broken trend line resistance at 141.25 (trend line joining 143.19 and 141.40) and jumped till 142.03 yesterday. The pair has close well above trend line resistance and is currently trading around 141.89.
The pair is trading slightly above Tenkan-Sen (141.79) and Kijun-Sen (141.22). Any minor weakness for the day can be seen only below 140.70 (hourly cloud). Break below 140.70 will drag the pair down till 140/139.31.
On the higher side, near term resistance 142.03 (21- day EMA) and any break above will take the pair to next level at 143.20/144/145.
It is good to buy on dips around 141.60-65 with SL around 140.70 for the TP of 144/145.
