Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

GBP/JPY breaks major trend line resistance, targets 164

  • Major Resistance - 161.40 (trend line joining 162.43 and 162.22)
     
  • Major Support - 160.70
     
  • The pair has broken major resistance 161.40 and jumped till 161.57. It is currently trading around 161.45.
     
  • Short term trend is slightly bullish as long as support 160.70 holds.
     
  • On the higher side break above 161.40 will drag the pair till 162.50/163/164.50.
     
  • Intraday weakness can be seen only below 160.70 and break below targets 160.30/159.50.
     
  • Short term bullish invalidation below 159.20.

It is good to buy at dips around 161.30-35 with SL around 160.70 for the TP of 162.50/163.90

 

  • Market Data
Close

Welcome to EconoTimes

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