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Candlestick pattern- Shooting star
GBPJPY has halted its bullishness after a jump of more than 150 pips from of 140.65. The pair hits high of 142.28 and shown a minor decline. The Brexit uncertainty and mild weakness in stock market on global growth concerns is supporting JPY. It is currently trading around 142.01.
On the lower side near term support is around 141.50 (55- H EMA) and any violation below will drag the pair to next level till 140.97/140.65.
The near term resistance is around 142.30 and any break above will take the pair to next level till 142.65/143/143.95.
It is good to sell on rallies 142.35-40 with SL around 143 for the TP of 141.50/140.80.
