GBP/JPY breaks major resistance 185.30, targets 187/187.45 Long

British Pound/Japanese YenFXCM

Description

⋅ Oct 20, 2015 7:06 AM

GBP/JPY faces strong resistance around 185.30 and overall trend reversal can happen above that level.

Any break above 185.30 targets 187/187.45 in short term.

On the downside minor support is around 184.40 and break below targets 183.90/183.40.

It is good to buy above 185.30-35 with SL around 184.40 for the TP of 187/187.45

Comments

nixdem

⋅ Oct 20, 2015 7:09 AM

Why it is considered a demand zone and not a supply one?

FxWirePro

⋅ Oct 20, 2015 7:09 AM

If it breaks that level lot of buying will happen