- Major resistance -132 (55 H EMA)
- The pair has retreated sharply after making a high of 131.32 at the time of writing. It is currently trading around 130.72.
- GBP/JPY have declined till 128.60 yesterday and closed slightly above 130
- The intraday trend is weak as long as resistance 132 holds.
- Any indicative break above 132 will take the pair to next level at 132.70/133.90/135.32 (200 HMA).
- On the lower side, support is around 130.30 and break below targets 129.80/128.60.
Indicators :
CCI(50)- sell
ADX- Neutral
It is good to sell on rallies around 131.10-131.20 with SL around 132 for the TP of 129.85/128.65
