Chart Of The Day: 149.40 Can Challenge GBPJPY Buyers

Thu, 14 Mar 2019 11:47

In spite of rallying to four-month high, the GBPJPY pair couldn't be termed strong as a downward slanting trend-line stretched since May 2018, at 149.40 now, still remains untouched. Hence, the pair buyers need to conquer 149.40 on a daily closing basis in order to aim for 150.00 round-figure and the 150.70 resistance-level. In case prices keep rallying past-150.70, the 152.60 and 153.85 may become bulls' favorites.

Meanwhile, the 146.50 and the 145.40 can act as nearby supports prior to diverting market attention to 200-day SMA level of 144.70. Though, ascending trend-line ranged from January 04 can limit the downside at 144.20. If at all prices drop under 144.20, chances of witnessing 141.00 as a quote can't be turned down.

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