GBP/JPY trades well below 21- day EMA, targets 140
Major intraday resistance – 143.50 (21- day EMA) The pair shown a slight jump after hitting low of 142.77 at the time of writing. GBP/JPY broken the support of 142.77 and declined till 142.55 at the writing.It is current…
The pair shown a slight jump after hitting low of 142.77 at the time of writing. GBP/JPY broken the support of 142.77 and declined till 142.55 at the writing.It is currently trading around 142.57.
The intraday trend is weak as long as resistance 143.50 holds.
Any break above 21- day EMA will take the pair to next level till 144.10/144.75 (200- HMA).
On the lower side, major support stands at 142.50 and any violation below will drag the pair down till 140/138.85 (161.8% retracement of 142.50 and 148.45).
It is good to sell on rallies around 142.60-65 with SL around 143.50 for the TP of 140/138.85
