FxWirePro:GBP/JPY struggles to close above 144,good to sell on rallies
Monday, January 9, 2017 6:28 AM UTC
- Major resistance- 144.01 (89- 4H EMA)
- Major support – 142.15 (Dec 29th 2016 low).
- GBP/JPY has once retreated after jumping till 143.97 yesterday.It is currently trading around 143.23.
- Short term trend is still bearish as long as intraday support 144.01 (89- 4HMA) holds.
- Any violation below minor support 143 will drag the pair down till 142.50/142.15/140 in the short term.
- On the higher side, any break above 144.01 will take the pair to next immediate resistance at 145/ 145.40 (Jan 3rd 2017 high)/146.
It is good to sell on rallies around 143.55-143.60 with SL around 144.07 for the TP of 142.51/142.20
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