Major resistance – 151.40 (trend line joining 152.34 and 151.74, 233- H MA). GBP/JPY declined sharply after forming a temporary top at 153.41(Dec 8th 2017 high). The pair dipped till 150.83 and is currently trading aroun…
Major resistance – 151.40 (trend line joining 152.34 and 151.74, 233- H MA).
GBP/JPY declined sharply after forming a temporary top at 153.41(Dec 8th 2017 high). The pair dipped till 150.83 and is currently trading around 151.15.
UK CPI data came yesterday rose to 6 –year high at 3.1% but GBP declined after showing a minor recovery. Markets await UK jobs data to be released today for further direction.
The near term major resistance is around 151.40 and any break above will take the pair to next level till 152/152.37/153. Overall bearish invalidation only above 153.40.
On the lower side, support is around 150.78 and any break below will drag the pair to 150.16/149.75 (Dec 6th 2017 low).
It is good to buy above 151.40 with SL around 151 for the TP of 152.37/153.
