Thursday, October 15, 2026

Technicals

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FxWirePro:GBP/JPY struggles to break above 170, good to sell on rallies

Major resistance - 170(Cloud bottom) The pair has made a high of 170 and started to retreat from that level. It is currently trading around 168. upside in GBP/JPY has been capped around 170.20-35 (ichimoku cloud) and any…

By Lis Howell
1 min read
FxWirePro:GBP/JPY struggles to break above 170, good to sell on rallies
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  • Major resistance - 170(Cloud bottom)
     
  • The pair has made a high of 170 and started to retreat from that level. It is currently trading around 168. upside in GBP/JPY has been capped around 170.20-35 (ichimoku cloud) and any break above 170.20 will take the pair to next level 172/176 in short term.
     
  • On the lower side any minor weakness can be seen only below 167.70 (21 day MA) level. Break below 167.70 will drag the pair down till 166.90/165.


It is good to sell on rallies around 168.80-169 with SL around 170.20 for the TP of 165/164.

 

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By FxWirePro Team