The GBP/JPY initially rallied during the trading session on Monday, but then plunged into the ¥130 level. This is an area of support zone but considering that markets are trading on technicals at this point, it’s about the global fear index. So as the price is trading in its support zone , If it breaches the small resistance level at 133.41. Then price may enter into a new upward trend and then its first target will be 136.15.
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Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
