GBP/JPY Breaks Major Resistance 155.80, Targets 158.20/158.80

GBP/JPY Breaks Major Resistance 155.80, Targets 158.20/158.80

19 April 2016, 09:41
Roberto Jacobs
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GBP/JPY Breaks Major Resistance 155.80, Targets 158.20/158.80

  • Major Resistance – 155.80 
  • The pair has broken major resistance 155.80 and jumped till 156.19. It is currently trading around 156.01. 
  • Intraday trend is slightly as long as support 154.95 (7 day EMA) holds.     
  • Any violation below 154.95 will drag the pair till 154.35/153.80/153 in short term. 
  • On the higher side break above 155.80 confirms minor trend reversal a jump till 15715/158.15/158.80 is possible. 
  • Short term weakness only below 151.50 level.

It is good to buy at dips around 155.95-156 with SL around 154.95 for the TP of 157.15/158.20/158.80

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