GBPJPY closes below 200- day MA, dip till 135.60 likely
GBPJPY has broken the low of 139.78 made on Aug 18th 2017 and declined till 139.31 yesterday. Intraday trend is weak as long as 140.40 (21- 4H EMA) holds. It is currently trading around 139.57. The near term minor resist…
GBPJPY has broken the low of 139.78 made on Aug 18th 2017 and declined till 139.31 yesterday. Intraday trend is weak as long as 140.40 (21- 4H EMA) holds. It is currently trading around 139.57.
The near term minor resistance 140.36 (21- 4H EMA) and any break above confirms intraday bullishness, a jump till 140.92 (7- day MA)/141.30 (23.6% retracement of 147.77 and 139.31)/142/143.20. Overall bearish invalidation only above 147.70.
On the lower side,daily close below 140 confirms bearish continuation and dip till 138.67 (Jun 12th 2017 low)/135.59 (Apr17th 2017 low) is likely.
It is good to sell on rallies around 139.80-85 with SL around 140.92 for the TP of 138.67/135.60.
