GBP/JPY trades below 89- day EMA, dip till 141.80 likely
Major intraday resistance- 143.55-143.65 (23.6% retracement and 89 EMA). The pair is declining phase and has broken major support of 144 low made on Jul 21st 2017. GBP/JPY declined till 142.46. It is currently trading ar…
Major intraday resistance- 143.55-143.65 (23.6% retracement and 89 EMA).
The pair is declining phase and has broken major support of 144 low made on Jul 21st 2017. GBP/JPY declined till 142.46. It is currently trading around 143.
On the lower side, near term support is around 142.45 and any break below will drag the pair down till 141.78 (trend line joining 135.95 and 138.67)/141.60 (200- day MA)/139.84.
The near term resistance is around 143.65 and any break above will take the pair till 144/144.40 (55- day EMA)/145.Minor bullishness can be seen only above 145 level.
It is good to sell on rallies around 143.35-40 with SL around 144 for the TP of 141.90/140.
