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GBP/JPY Trade Idea

Monday, June 6, 2016 12:02 PM UTC

Major resistance- 155.15 (Hourly Kijun-Sen)
The pair has broken minor resistance 153.85 (hourly Tenken-Sen) and jumped till 154.85. It is currently trading around 154.62.
In the hourly chart the pair should close above 155.15 for further short-term bullishness. Any break above 155.15 will take the pair till 155.96/157.20 in the short term.
On the lower side support is around 153.80 and any violation below 153.80 will drag the pair down till 152.95/152.20/151.49.
Short term bearish invalidation only above 158.

It is good to buy above 155.15 with SL around 153.85 for the TP of 157.20/158

R1-155.15

R2-155.96

R3-157.20

Support

S1-153.80

S2-152.95

S3-152.20

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GBP/JPY Trade Idea

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