Currently, GBP/JPY is trading at 132.84. The pair is consolidating in the ascending resistance and support wedges . If it breaks the resistance level at 133.09, the pair may start a new up trend and its target price will be at 134.96. If it breaks the support level at 131.82, the pair may enter into a down trend and its target price will be at 129.58.
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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.