GBP/JPY trades well above trend line resistance, targets 145
Major support – 140.80 (200- day MA)
GBP/JPY broken the trend line resistance and jumped till 142.79 yesterday. It is currently trading around 142.16.
The pair formed a temporary bottom at 140.77 yesterday and jumped from that level.
GBP has taken support near 60- day EMA against USD and jumped sharply from that level. It is currently trading around 1.25161.
On the lower side, any break below temporary bottom at 140.80 will drag the pair down till 140.36 (60- day EMA)/139.71 (89- day EMA).
The major resistance is around 143.20 (200- 4H MA) and any break above will take the pair to next level till 143.65 (100 – day MA).
It is good to buy on dips around 141.60 with SL around 140.75 for the TP of 143.20/145
GBP/JPY broken the trend line resistance and jumped till 142.79 yesterday. It is currently trading around 142.16.
The pair formed a temporary bottom at 140.77 yesterday and jumped from that level.
GBP has taken support near 60- day EMA against USD and jumped sharply from that level. It is currently trading around 1.25161.
On the lower side, any break below temporary bottom at 140.80 will drag the pair down till 140.36 (60- day EMA)/139.71 (89- day EMA).
The major resistance is around 143.20 (200- 4H MA) and any break above will take the pair to next level till 143.65 (100 – day MA).
It is good to buy on dips around 141.60 with SL around 140.75 for the TP of 143.20/145
