GBP/JPY forms bullish Gartley pattern, good to buy on dips
Pattern formed – Bullish Gartley pattern
Major support -140
The pair declined drastically after breaking major support 142.15. It has made a low of 140.20 at the time of writing and is currently trading around 140.64.
Major support is around 140 and any break below will drag the pair down till 138.50 in the short term.
The pair minor resistance is around 141.40 (23.6% retracement of 145.25 and 140.20) and break above will take the pair till 142.20 (support turned into resistance)/143.
It is good to buy on dips around 140.60 with SL around 140 for the TP of 141.40/142.20.
Major support -140
The pair declined drastically after breaking major support 142.15. It has made a low of 140.20 at the time of writing and is currently trading around 140.64.
Major support is around 140 and any break below will drag the pair down till 138.50 in the short term.
The pair minor resistance is around 141.40 (23.6% retracement of 145.25 and 140.20) and break above will take the pair till 142.20 (support turned into resistance)/143.
It is good to buy on dips around 140.60 with SL around 140 for the TP of 141.40/142.20.
