FXWIREPRO: GBP/JPY Faces Strong Resistance at 154.80, Good to Buy at Dips

FXWIREPRO: GBP/JPY Faces Strong Resistance at 154.80, Good to Buy at Dips

• Major resistance – 154.80 (3 W EMA) 
• Minor support -153.25 
• The pair has jumped till 154.22 on Friday and declined from that level. It is currently trading around 153.34. 
• Short term trend is slightly weak as long as resistance 154.80 holds. Any break above 154.80 will take the pair till next level 155.80/157.10/158 in short term. 
• On the lower side major support is around 151.50 and break below targets 150/148.40. 
• Short term bearish invalidation only above 158 level.
  

It is good to buy at dips around 153.65-70 with SL around 153.25 for the TP of 154.80/155.80

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