FxWirePro: GBP/JPY trades weak, good to sell on rallies
Major resistance- 137.40 (hourly Kijun-Sen) Major support – 135.20 (trend line joining 139.24 and 135.96) The pair has made a low of 135.52 at the time of writing and recovered slightly after BOJ disappoints markets by k…
Major support – 135.20 (trend line joining 139.24 and 135.96)
The pair has made a low of 135.52 at the time of writing and recovered slightly after BOJ disappoints markets by keeping interest rates unchanged at -0.1%.
BOJ has announced further easing measures to boost the economy.
Technically intraday trend is weak as long as resistance 137.40 holds . Any break above 137.40 will take the pair to next level at
138.20/139.25/140. Short term trend reversal only above 140 level.
On the lower side, any break below 135.20 will drag the pair down till 134/133.
It is good to sell on rallies around 136.60-65 with SL around 137.40 for the TP of 135.60/135
