GBP/JPY breaks major resistance 155.80

April 19, 2016

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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