• FxWirePro: GBP/JPY trade idea

    Source: FxWireTechnicals / 13 Oct 2017 04:03:37   Eastern Standard Time

    • GBP/JPY has shown a huge buying at the low of 147.29 made yesterday. The pair jumped till 149.03 and is currently trading around 149.10.
    • The pair should break above 149.15 high made yesterday and also trend line resistance for minor bullishness.
    • The intraday trend is bullish as long as support 148.40-148.45 (38.2% fibo) holds.
    • On the higher side, near term major resistance is around 149.15 (trend line resistance) and any break above confirms intraday bullishness, a jump till 150.25/151.60 likely.
    • The near term support is around 148.40 and any violation below will drag the price till 147.70/146.95 for the day. Short term weakness below 146.95.

    It is good to buy on dips around 148.60-65 with SL around 148 for the TP of 150.25/151.60.



    R1- 149.15

    R2 150.25

    R3- 151.60


    S1- 148.40