FXWIREPRO: GBP/JPY Breaks Minor Trend Line Resistance, Good to Buy at Dips

FXWIREPRO: GBP/JPY Breaks Minor Trend Line Resistance, Good to Buy at Dips

28 March 2016, 10:21
Roberto Jacobs
0
21

FXWIREPRO: GBP/JPY Breaks Minor Trend Line Resistance, Good to Buy at Dips

  • Major resistance- 160.30 (trend line joining 175.01 and 164.09) 
  • Major support- 159         
  • The pair has broken major resistance 160.30 and jumped till 160.63 at the time of writing. It is currently trading at 160.62. 
  • Short term trend is slightly bullish as long as support 159 holds. 
  • On the higher side any break above 160.30 will take the pair to next level till 161.50/162.55 in short term. 
  • The pair’s minor support is around 160 and break below targets 159/158.40. 
  • Intraday bullish invalidation only below 158.40.

It is good to buy at dips around 160.10 with SL around 159 for the TP of 161.50/162.51.

The material has been provided by InstaForex Company - www.instaforex.com

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