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GBP/JPY breaks minor resistance 154.50, jump till 155.35/155.80 is possible

  • Major resistance – 155.35 (3 W EMA)
     
  • Minor support -153.50
     
  • The pair has broken minor resistance 154.50 and jumped till 154.62 at the time of writing. It is currently trading around 154.41.
     
  • Intraday trend  is slightly bullish as pair is trading above Tenken-Sen and Kijun-Sen levels. Minor weakness can be seen below 153.50. 
     
  • Any break above 154.50 will take the pair till next level 155.35/155.80/157.10 in short term.
     
  • On the lower side major support is around 153.50 and break below targets 151.50/150.
     
  • Short term bearish invalidation only above 158 level.

It is good to buy at dips around 154.30-35 with SL around 153.50 for the TP of 155.35/155.80

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