Currently, GBP/JPY is trading at 132.75 moving towards its neckline. On Monday, March 30 this pair started trading in sideways trend and now it is slowly moving towards its neckline. If it breaks neckline at 132.34, pair may start its new downtrend and then the next at 130.57 will be its 1st target.
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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.