Friday, October 16, 2026

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FxWirePro:GBP/JPY trades well above trend line resistance, jump till 145 likely

Major support – 140.80 (200- day MA) GBP/JPY broken the trend line resistance and jumped till 142.79 yesterday. It is currently trading around 142.35. The pair formed a temporary bottom at 140.77 yesterday and jumped fro…

By FxWirePro Team
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FxWirePro:GBP/JPY trades well above trend line resistance, jump till 145 likely
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  • Major support – 140.80 (200- day MA)  
     
  • GBP/JPY broken the trend line resistance and jumped till 142.79 yesterday.  It is currently trading around 142.35.
     
  • The pair formed a temporary bottom at 140.77 yesterday and jumped from that level.
     
  • GBP has taken support near 60- day EMA against USD and jumped sharply from that level. It is currently trading around 1.25161.
     
  • On the lower side, any break below temporary bottom at 140.80 will drag the pair down till 140.36 (60- day EMA)/139.71 (89- day EMA).
  • The major resistance is around 143.20 (200- 4H MA) and any break above will take the pair to next level till 143.65 (100 – day MA).

    It is good to buy on dips around 141.60 with SL around 140.75 for the TP of 143.20/145

 

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By FxWirePro Team