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GBP/JPY Trade Idea

Major trend line resistance - 179.70 (trend line joining 181.22 and 179.91) Any break above 179.70 confirms minor bullishness, a jump till 181.20/182.25 is possible . On the downside trend reversal only below 178.90 leve…

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GBP/JPY Trade Idea
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  • Major trend line resistance - 179.70 (trend line joining 181.22 and 179.91)
     
  • Any break above 179.70 confirms minor bullishness, a jump till 181.20/182.25 is possible .
     
  • On the downside trend reversal only below 178.90 level. Break below 178.90 will drag the pair down till 178.60/178.33.
     
  • The pair's minor resistance is around 180.15 level.

It is good to buy at dips around 179.75-80 with SL around 178.90 for the TP of 181.20/182.25

R1-180.15

 R2-181.22

R3-182.25

Support

S1-178.90

S2-178.60

S3- 178.30

 

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