• 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.   

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