FxWirePro: GBP/JPY trades higher, good to buy on dips
GBP/JPY continuing its third day of winning streak and pair has broken major resistance 143.20 and jumped till 144.24 yesterday. The pair formed temporary bottom at 141.19 and any minor weakness can be seen only below th…
GBP/JPY continuing its third day of winning streak and pair has broken major resistance 143.20 and jumped till 144.24 yesterday. The pair formed temporary bottom at 141.19 and any minor weakness can be seen only below that level. It is currently trading around 144.215.
The pair’s major resistance is around 144.65 (61.8% fibo) and any convincing break above will take the pair to next level till 145.27 (Aug 8th high)/146/146.78. Overall bullish continuation only above 148.11.
Short term bullish invalidation can be seen only below 139.30 low made on Aug 24th 2017.
The near term support is around 143 (233- 4H MA) and any break below will drag the pair till 142.65 (20- 4H MA)/141.19.
It is good to buy on dips around 143.75-80 with SL around 143 for the TP of 145.27/146.
