Technicals

Add as a preferred source on Google

GBP/JPY breaks minor resistance 154.50, jump till 155.35/155.80 is possible

Major resistance – 155.35 (3 W EMA) Minor support -153.50 The pair has broken minor resistance 154.50 and jumped till 154.62 at the time of writing. It is currently trading around 154.41. Intraday trend is slightly bulli…

1 min read
GBP/JPY breaks minor resistance 154.50, jump till 155.35/155.80 is possible
Image from the original EconoTimes article

Read the original article

  • Major resistance – 155.35 (3 W EMA)
     
  • Minor support -153.50
     
  • The pair has broken minor resistance 154.50 and jumped till 154.62 at the time of writing. It is currently trading around 154.41.
     
  • Intraday trend  is slightly bullish as pair is trading above Tenken-Sen and Kijun-Sen levels. Minor weakness can be seen below 153.50. 
     
  • Any break above 154.50 will take the pair till next level 155.35/155.80/157.10 in short term.
     
  • On the lower side major support is around 153.50 and break below targets 151.50/150.
     
  • Short term bearish invalidation only above 158 level.

It is good to buy at dips around 154.30-35 with SL around 153.50 for the TP of 155.35/155.80

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560