FxWirePro
Long

GBP/JPY faces strong resistance at 151, break above targets 155

FX:GBPJPY   British Pound / Japanese Yen
277 0 7
Major Support – 149.50 (Yesterday low)

Major resistance- 151 (hourly Kijun-Sen)

GBP/JPY             has recovered after making a low of 149.46. It is currently trading around 150.21.

The ICM recent UK’S EU referendum polls shows a 6 point lead for the ‘Leave’ camp with “Leave’ score at 53 compared to ‘Remain’ at 47%.

In weekly chart both CCI (50) and RSI (14) is showing classical bullish divergence and so slight jump till 155/157 is possible.

On the lower any break below 149.50 will drag the pair down till 148.30/147.70 level.

Technically the pair is facing resistance around 151 (hourly Kijun-Sen) and any break above targets 152.40/153.50/155.

It is good to buy above 151 with SL around 149.50 for the TP of 152.75/155/157.80

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