FxWirePro: GBP/JPY trades well below 200 –day MA, dip till 145 likely
GBP/JPY is continuing its fourth day of weakness after forming a temporary top around 149.38. The yen was trading higher against all majors as safe haven demand increased on account of G20 meeting to be started on Monday…
GBP/JPY is continuing its fourth day of weakness after forming a temporary top around 149.38. The yen was trading higher against all majors as safe haven demand increased on account of G20 meeting to be started on Monday and trade will be top of the agenda. The pair hits intraday low of 147.04 and shown a minor jump from that level. The pair is currently trading around 147.27.
The major resistance is around 148.01 and any break above targets 149.40/150/151.20. The near term resistance is around 148.20/148.65/149.
On the lower side, near term support is around 147 and any close below will drag the pair till 146.36/145.
It is good to sell on rallies around 147.35-40 with SL around 148 for the TP of 146.36/145.
