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GBP/JPY breaks minor trend line resistance, targets 140.45

Wednesday, July 20, 2016 6:41 AM UTC

Minor Trend line resistance – 138.90 (trend line joining 140.45 and 139.34)
The pair has broken minor resistance at 138.90 and slightly jumped till 139.25 at the time of writing. It is currently trading at 139.10.
The intraday trend is slightly bullish as long as 138.60 (21 HMA) holds.
Any violation below 138.60 will drag the pair down till 138.34/137.80.

Indicators (Hourly chart)

CCI (50) –Buy

ADX – Buy

It is good to buy at dips around 139-139.10 with SL around 138.60 for the TP of 140.45/141.29

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GBP/JPY breaks minor trend line resistance, targets 140.45

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