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  • FxWirePro: GBP/JPY trade idea

    Source: FxWireTechnicals / 13-October-2017 08:03:37   GMT
    • 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.

     

    Resistance
                   

    R1- 149.15
     

    R2 150.25
     

    R3- 151.60
     

    Support               
     

    S1- 148.40
     

    S2-147
     

    S3-145.63