Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY faces strong resistance at 162.70, good to buy at dips

  • Major resistance -162.70
     
  • Major support – 160
     
  • The pair has retreated yesterday after making a high of 162.70. It is currently trading around 161.93.
     
  • Short term trend is still bullish as long as support 160 holds.
     
  • On the lower side minor support is around 160 and any break below that level will drag the pair down till 159.15/158.49/158.
     
  • The pair’s resistance is around 162.70 and break above targets 164.05 level.
     
  • Overall trend reversal only above 164.10.

It is good to buy at dips around 161.20-30 with SL around 160 for the TP of 162.70/164.10

 

 

  • Market Data
Close

Welcome to EconoTimes

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