FxWirePro:GBP/JPY takes support at 21- day EMA, good to buy on dips
Major resistance- 146 (61.8% retracement of 148.45 and 142.17). Major support - 143.50 (21- day EMA) GBP/JPY taken support near 21- day EMA and jumped sharply from that level. It is currently trading around 144.54. Short…
Major resistance- 146 (61.8% retracement of 148.45 and 142.17).
Major support - 143.50 (21- day EMA)
GBP/JPY taken support near 21- day EMA and jumped sharply from that level. It is currently trading around 144.54.
Short term trend is still bullish as long as support 143.50 holds.
Any violation below 143.50 will drag the pair down till 142/140 in the short term.
On the higher side, any break above 145 will take the pair to next immediate resistance at 145.40 (Jan 3rd 2017 high)/146/147 (trend line joining 163.89 and 148.45).
It is good to buy on dips around 144.40-144.50 with SL around 143.50 for the TP of 146/147
