Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY faces strong support around 161.35, good to buy at dips

  • Major support -161.38 (trend line joining 154.71 and 156.20 and also 55 day 4 H EMA)
     
  • The pair is facing strong support around 161.38 and any break below confirms minor trend reversal , a decline till 160.80/160 is possible .
     
  • Short term bullish invalidation only below 159.50.
     
  • On the higher side major resistance is around 162.50 and any break above targets 163.15/164.the minor resistance is around 161.80.
     
  • Further bullishness only above 164.25.

 It is good to buy at dips around 161.65-161.70 with SL around 161.35 for the TP of 162.50/163.14

  • Market Data
Close

Welcome to EconoTimes

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