GBPJPY was trading slightly lower in previosu week. It was trading in narrow range between 147.98 and 146.20 for past five trading session. US dollar index was trading higher against majors after more dovish comment by E…
GBPJPY was trading slightly lower in previosu week. It was trading in narrow range between 147.98 and 146.20 for past five trading session. US dollar index was trading higher against majors after more dovish comment by ECB and it has jumped almost 200 pips from low of 93.19 previous week. The more dovish comment from ECB ahs dragged Euro to 5-1/2 month low . It is currently trading around 146.57.
Technically the pair is facing strong resistance around 148.11 high made on Jun 7th 2018. Any break above 148.11 confirms further bullishness and a jump till 149.80/150/151.55 is possible.
On the lower side, major weakness only below 146 level and any break below will drag the 145/143.20.Overall bullish invalidation only below 143.
It is good to sell on rallies around 147-147.10 with SL around 148.10 for the TP of 143.20.
