GBP/JPY recovers after making a low of 190.99, targets 193.60
GBP/JPY has recovered after making a low of 190.99 and is currently trading at 192.45. Short term trend is bullish as long as support 192 holds.
On the higher side minor resistance is around 193 ( 200 day HMA) and any break above will extend gains till 193.66/194 in short term.
The pair’s potential loss is unlimited if it breaks below 192 and below 192 it will target 191.50/190.99.
Bullish invalidation only below 190.50.
It is good to buy at dips around 192.40-45 with SL around 191.95 for the TP of 193.40/193.90
On the higher side minor resistance is around 193 ( 200 day HMA) and any break above will extend gains till 193.66/194 in short term.
The pair’s potential loss is unlimited if it breaks below 192 and below 192 it will target 191.50/190.99.
Bullish invalidation only below 190.50.
It is good to buy at dips around 192.40-45 with SL around 191.95 for the TP of 193.40/193.90