GBP/JPY faces strong resistance at 200- day MA, break above targets 151
GBP/JPY has taken support near trend line and shown a good jump of more than 200 pips form the low of 147.05. The pair jumped till 149.31 and is currently trading around 148.61. The pair is facing strong resistance at 20…
GBP/JPY has taken support near trend line and shown a good jump of more than 200 pips form the low of 147.05. The pair jumped till 149.31 and is currently trading around 148.61.
The pair is facing strong resistance at 200- day MA at 149.17 (200- day MA) and any convincing close above 200- day MA will take the pair to next level till 149.88 (55- day EMA)/150/150.64 (100- day MA).
On the lower side, near term major support is at trend line is around 147 and any decline below will drag the pair to next level till 146.60/145. The minor support is around 147.60.
It is good to buy above 149.20 with SL around 148.50 for the TP of 150.64/151.
