FxWirePro
Short

GBP/JPY struggles to close above 200dayMA,good to sell on rallie

FX:GBPJPY   British Pound/Japanese Yen
212 0 3
Major trend reversal – close above 186.25 (200 day MA)

GBP/JPY             has made a high of 186.35 and started to decline from that level. Overall trend is weak as long as GBP/JPY             stays below 186.25.

On the lower side it has broken major support 185 (50 day MA) and break below confirms minor trend reversal a decline till 183.97/183 is possible.

The pair’s major resistance is around 185.50 and break above targets 185.90/186.30.

It is good to sell on rallies around 185.15-20 with SL around 186.25 for the TP of 183.97/183
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