GBP/JPY Faces Resistance at 155.15, Break Above Targets 157.20/158
6 June 2016, 12:40
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GBP/JPY Faces Resistance at 155.15, Break Above Targets 157.20/158
- Major resistance- 155.15 (Hourly Kijun-Sen)
- The pair has broken minor resistance 153.85 (hourly Tenken-Sen) and jumped till 154.85. It is currently trading around 154.62.
- In the hourly-chart the pair should close above 155.15 for further short-term bullishness. Any break above 155.15 will take the pair till 155.96/157.20 in the short term.
- On the lower side support is around 153.80 and any violation below 153.80 will drag the pair down till 152.95/152.20/151.49.
- Short term bearish invalidation only above 158.
It is good to buy above 155.15 with SL around 153.85 for the TP of 157.20/158
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