• FxWirePro: gbpjpy trade idea

    Source: FxWire Pro - Technicals / 19 Jun 2018 09:28:03   America/New_York

    • GBPJPY is continuing its weakness and has broken major support at 146 and declined till 144.70. The pair dipped almost 300 pips in the two days of this week. GBP was trading weak US dollar on account of strong US dollar index. US dollar index has broken major resistance 95.13 and is trading around 95.17. GBPJPY hits intraday low of 144.70 and is curretly trading around 144.78.
       
    • The pair is trading slightly below 145 and it confirms minor trend reversal and a decline till 143 is likely.
       
    • On the higher side, near term resistance is around 146 (support turned into resistance) and any break above will take the pair to next level till 147.10/148. It should breka above 148.11 for further jump till 150.

      It is good to sell on rallies around 146-146.10 with SL around 147.10 for the TP of 143.25.    

     

    Resistance

    R1- 146.10
     

    R2 –147
     

    R3- 148.11

    Support               
     

    S1- 145
     

    S2-143.20
     

    S3-143

     

Share on