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FxWirePro: Buy GBP/JPY above 129.15

Friday, November 4, 2016 1:03 PM UTC

Major intraday resistance -129.16 (34 day EMA)
Major support – 126.40 (trend line joining 125.91 and 126.12)
GBP/JPY has made a temporary top around 129.04 and struggling to close above that level. It is currently trading around 128.66.
GBP/JPY should break above 34- day EMA for further bullishness. So slight bullishness can be seen only above 129.16 and any break above targets 130.11/132.

On the lower side, 126.40 will be acting as short term support and any indicative break below 126.40 will drag the pair down till 125.90/124.80 in the short term. The minor support is around 127.50 (21- day MA).

It is good to buy above 129.16 with SL around 128 for the TP of 132.

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FxWirePro: Buy GBP/JPY above 129.15

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