Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY recovers sharply from the low of 139.62, good to buy on dips

  • Major resistance - 142.15 (trend line joining 144.78 and 144.69)
     
  • Major support – 139.40 (200- day MA)
     
  • GBP/JPY has taken support near 200 –day MA at 139.50 and recovered sharply from that level. Short term trend is slightly bullish as long as support 139.40 holds.
     
  • The pair is facing strong trend line resistance at 142.25 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
     
  • On the lower side, any break below 139.40 (200- day MA) and any break below will drag the pair till 138.50 (Feb 7th 2017 low)/136.45 (Jan 16th 2017 low).

    It is good to buy on dips 140.55-140.60 with SL around 139.60 for the TP of 142.25/144.10.
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.