Thursday, October 15, 2026

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FxWirepro: GBP/JPY trades in narrow range, good to sell on rallies

Major support - 126.60 (trend line joining 125.98 and 126.26). Minor resistance- 127.65 (55- 4H EMA). GBP/JPY has once again retreated after jumping till 127.68. It is currently trading around 126.95. On the higher side,…

By FxWirePro Team
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FxWirepro: GBP/JPY trades in narrow range, good to sell on rallies
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  • Major support - 126.60 (trend line joining 125.98 and 126.26).
     
  • Minor resistance- 127.65 (55- 4H EMA).
     
  • GBP/JPY has once again retreated after jumping till 127.68. It is currently trading around 126.95.
     
  • On the higher side, resistance is around 128.60 any violation above will take the pair to next level till 129.50/130 in the short term.
     
  • Short term weakness can be seen only below 126.60 and any indicative break below targets 126.25/125.90.

It is good to buy on dips around 127.25-30 with SL around 128 for the TP of 125.90.

 

 

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