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.
The material has been provided by InstaForex Company - www.instaforex.com
Resistance: R1-154.25, R2-154.80, R3-155.80 Support: S1-1.4000, S2-1.3920, S3-1.3835