Currently, GBP/JPY is trading at 133.15. The pair started a sideways trend on 12 April after rebounding from the resistance level and now the price is consolidating in the resistance and support wedges . If the price breaks the resistance level at 135.45, then it may touch its resistance zone at 141.69. Although, if the price breaks its support level at 131.91, then it may touch its support zone at 125.56.
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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.