GBP/JPY struggles to close above 200 day 4HMA, targets 170
Major support – 171.50 (Kijun-Sen)
Major intraday resistance -172.55
The pair has made a high of 173.75 and started to retreat from that level. It is currently trading around 171.81.
On the downside major support is around 171.50 and any break below targets 170.97/170.50.
The pair’s major resistance is around 172.55 (Tenken-Sen) and any break above will take the pair till 173/173.75/175.
It should close above 175 for further bullishness.
It is good to sell on rallies around 172.50-60 with SL around 173.75 for the TP of 171.50/170.55/170.
Major intraday resistance -172.55
The pair has made a high of 173.75 and started to retreat from that level. It is currently trading around 171.81.
On the downside major support is around 171.50 and any break below targets 170.97/170.50.
The pair’s major resistance is around 172.55 (Tenken-Sen) and any break above will take the pair till 173/173.75/175.
It should close above 175 for further bullishness.
It is good to sell on rallies around 172.50-60 with SL around 173.75 for the TP of 171.50/170.55/170.
