FxWirePro: GBP/JPY upside capped by 55- day EMA, good to sell on rallies
GBP/JPY declined sharply after hitting high of 142.99 and any further bullishness can be seen only above 143.20. The JPY trades higher against all major pair after renewed tensions in North Korea. It is currently trading…
GBP/JPY declined sharply after hitting high of 142.99 and any further bullishness can be seen only above 143.20. The JPY trades higher against all major pair after renewed tensions in North Korea. It is currently trading around 141.76.
The pair declined till 141.74 from the yesterday high of 142.99. Short term trend is slightly weak as long as resistance 143.20 holds.
On the lower side, major support is around 141.40. Any break below 141.40 will drag the pair till 141 (200- H MA)/140. Minor bearish continuation only below 139.30 level.
The near term resistance is around 142.65 (34- day EMA) and any break above will take the pair till 143.20/144.
It is good to sell on rallies around 141.85-90 with SL around 143.20 for the TP of 139.40.
