FxWirePro: gbpjpy struggles to close above 200 day ma and trendline resistance, good to sell on rallies
Source: FxWire Pro - Technicals / 20 Sep 2018 00:10:28 America/New_York
Major resistance 148.29 (200- day MA)
GBPJPY has halted its 10 day winning streak after hitting high of 148.53.It has lost more than 100 pips from the high on account of weak GBP. It hits low of 147.20 and is currently trading around 147.50.
On the lower side, near term support is around 147 (5- day MA) and any break below will drag the pair down till 146.51 (7- day MA and 23.6% fib)/145.74/145.
The near term resistance is around 148.30 and any daily close above will take the pair to next level till 149.31/150.
It is good to sell on rallies around 148.10-20 with SL around 149.30 for the TP of 145.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.