Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/JPY faces strong support at 159, good to sell on rallies

  • Major resistance- 159.20 (55 day EMA)
     
  • Major support – 157.70 (21 day MA)
     
  • The pair has made a low of 158.04 and slightly recovered from that level. It is currently trading at 158.35.
     
  • On the lower side major support is around 157.70 and any break below targets 156/155.60 in short term.
     
  • The pair should break above 159.20 for minor bullishness.
     
  • GBP/JPY resistance is around 159.20 (55 day EMA) and any break above targets 160.60/161.60/162.30/162.80.   

It is good to sell on rallies around 158.50-158.55 with SL around 159.20 for the TP of 156/155.60.

 

  • Market Data
Close

Welcome to EconoTimes

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