GBP/JPY struggles break above 187.35, good to sell on rallies
GBP/JPY made a high of 187.33 yesterday and has started to retreat from that level. It is currently trading at 186.74.
On the downside major support is around 185.60 (23.6% retracement of 180.35 and 187.33) and any break below will drag the pair further down till 184.75/184 in short term.
The minor support is around 186.40
Overall bullish invalidation only below 184.
The pair’s major resistance is around 187.33 and any break above will take the pair further up till 188/189.90.
It is good to sell on rallies around 186.75-80 with SL around 187.40 for the TP of 185.65/185
On the downside major support is around 185.60 (23.6% retracement of 180.35 and 187.33) and any break below will drag the pair further down till 184.75/184 in short term.
The minor support is around 186.40
Overall bullish invalidation only below 184.
The pair’s major resistance is around 187.33 and any break above will take the pair further up till 188/189.90.
It is good to sell on rallies around 186.75-80 with SL around 187.40 for the TP of 185.65/185