GBP/JPY Trade Idea

GBP/JPY Trade Idea

11 April 2016, 14:54
Roberto Jacobs
0
19

GBP/JPY Trade Idea

  • 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


Resistance: R1-154.25,  R2-154.80, R3-155.80  Support: S1-1.4000, S2-1.3920, S3-1.3835

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



Share it with friends: