FxWirePro:GBP/JPY trades slightly above 21- day EMA, jump till 144 likely
Major resistance – 142.05 (trend line joining 144.78 and 142.80) Major support – 139.40 (200- day MA) GBP/JPY has broken 21- day EMA at 141.50 and jumped till 142.03 from that level. Short term trend is slightly bullish …
Major resistance – 142.05 (trend line joining 144.78 and 142.80)
Major support – 139.40 (200- day MA)
GBP/JPY has broken 21- day EMA at 141.50 and jumped till 142.03 from that level. Short term trend is slightly bullish as long as support 141 holds.
The pair is facing strong trend line resistance at 142.05 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
On the lower side, any break below 141 (55- day EMA) and any break below will drag the pair till 140/139.35 (200- day MA)/ 138.50 (Feb 7th 2017 low)/136.45 (Jan 16th 2017 low).
It is good to buy on dips 141.55-141.60 with SL around 141 for the TP of 142.35/144.10.
