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