FxWirePro: GBP/JPY trades higher on Brexit deal, good to buy on dips
GBP/JPY jumped sharply yesterday almost 200 pips yesterday on account of Brexit deal. The pair hits high of 149.68. The GBP was trading higher against all majors as UK and EU agreed on Brexit transition deal. The pair de…
GBP/JPY jumped sharply yesterday almost 200 pips yesterday on account of Brexit deal. The pair hits high of 149.68. The GBP was trading higher against all majors as UK and EU agreed on Brexit transition deal. The pair declined on profit booking till 148.40 and is currently trading around 149.11.
The major resistance is around 149.75 (55- day EMA) and any break above targets 150.40/150.93. The major trend reversal only above 150.95.
On the lower side, near term support is around 148 (20- day MA) and any close below will drag the pair till 147.50 (200- day MA)/146.95/146.40.
It is good to buy on dips around 148.55-60 with SL around 147.50 for the TP of 150/150.90.
