GBP/JPY trades weak, intraday bullishness only above 192.45
GBP/JPY has declined till 191.92 yesterday and is currently trading at 192.16. Intraday trend is still weak as long as intraday resistance 192.45 holds.
GBP declined against most of major pair yesterday due to weaker than expected retail sales data.
On the downside major support is around 191.70 and any break below will drag the pair further down till 191/190.55 in short term.
Break above intraday resistance -192.45 would extend gains till 193/193.40/193.95.
Bearish invalidation only above 194 level.
It is good to go long only above 192.45 with SL around 191.70 for the TP of 193.40/193.90.
Or
Sell below 191.70 with SL around 192.45 for the TP of 190.55/190.
GBP declined against most of major pair yesterday due to weaker than expected retail sales data.
On the downside major support is around 191.70 and any break below will drag the pair further down till 191/190.55 in short term.
Break above intraday resistance -192.45 would extend gains till 193/193.40/193.95.
Bearish invalidation only above 194 level.
It is good to go long only above 192.45 with SL around 191.70 for the TP of 193.40/193.90.
Or
Sell below 191.70 with SL around 192.45 for the TP of 190.55/190.