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GBP/JPY faces strong resistance at 200- day MA, break above targets 143

  • Major resistance – 141.60 (200- day MA)  
               
  • Major support -140
     
  • The pair jumped from the low of 140.17 till 141.47 at the time of writing. It is currently trading around 141.05.
     
  • GBP/JPY upside is capped by 200- day MA and any break above 141.55 will take the pair to next level till 142.58 (30- day EMA)/143.40 (61.8% retracement of 145.40 and 140.17).
     
  • Major support is around 140 and any break below will drag the pair down till 138.50 in the short term.

    It is good to buy above 141.60 with SL around 140.75 for the TP of 142.55/143

 

 

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