FxWirePro: GBP/JPY trades higher, good to buy on dips
GBP/JPY has shown a good jump of almost 90 pips today in the Asian session on account weakness in JPY against all majors. The pair hits intraday high of 148.72 and shown a minor profit booking from the high. The pair is …
GBP/JPY has shown a good jump of almost 90 pips today in the Asian session on account weakness in JPY against all majors. The pair hits intraday high of 148.72 and shown a minor profit booking from the high. The pair is currently trading around 148.58.
JPY was trading broadly with downward bias as risk appetite remains positive .The major concerns such as North Korea nuclear threats, trade war got eased previous week. The major resistance is around 148.75 and any break above targets 149.50/150.
On the lower side, near term support is around 148 and any break below will drag the pair till 147.40/146.95/146.36.
It is good to buy on dips around 148.40-45 with SL around 147.99 for the TP of 150.
