Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY trade idea

  • GBP/JPY has formed a minor top around 150.32 and shown decline from that level. The pair dipped till 148.45 and is currently trading around 148.70.
     
  • The main dip in the pair was mainly due to weakness in Pound. GBP was trading weak against all other pairs due to Brexit talks and political scandal.
     
  • The pair has broken trend line support at 149 and is trading slightly below that level. In the four hour chart pair is trading well below 233- MA- and 100- MA. Intraday trend is weak and a dip till 148 (55- day EMA)/147 likely.
     
  • On the higher side, near term resistance is around 149.70 and any break above will take the pair to next level till 150.35/151/151.60. Overall bullish continuation only above 152.86.
     

It is good to sell on rallies around 148.75-80 with SL around 149.70 for the TP of 147.

Resistance
 

R1- 149
 

R2 149.70
 

R3- 150.35
 

Support               
 

S1- 148
 

S2- 147
 

S3-146

 

 

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

February 24 01:30 UTC Released

CNChina House Prices YY

Actual

5 %

Forecast

Previous

5.3 %

February 23 20:00 UTC Released

USCattle Placed On Fd

Actual

104 %

Forecast

100.4 %

Previous

101 %

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 4734847348m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 4734847348m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3552835528m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

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