GBP/JPY trades below 133 , decline till 130 likely
Major intraday resistance- 133.89 (hourly Kijun-Sen). The pair declined below major support 133 handle till 132.55 yesterday. It is currently trading around 132.73. The Intraday trend is weak as long as resistance 133.89…
Major intraday resistance- 133.89 (hourly Kijun-Sen).
The pair declined below major support 133 handle till 132.55 yesterday. It is currently trading around 132.73.
The Intraday trend is weak as long as resistance 133.89 holds. The pair is declining continuously for sixth straight session from the high of 140. GBP/JPY has weakened further after BOE cuts interest rates by 25bpbs and adds further stimulus package for the growth of the economy.
On the higher side resistance is at 133.89 and any break above targets 134.20/135.25 in the short term.
The low made post-BOE yesterday 132.55 will be acting as major support and a breakdown below targets 131.60/130.
It is good to sell on rallies around 132.80-85 with SL around 133.90 for the TP of 131.60/130.05
