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FxWirePro: Buy GBP/JPY above 128.50

Major resistance – 128.50 (trend line joining 128.17 and 128.41). Major support - 127.95 (21-4 HMA) The pair has jumped sharply after declining till 127.07. It is currently trading around 128.22. On the higher side, any …

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FxWirePro: Buy GBP/JPY above 128.50
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  • Major resistance – 128.50 (trend line joining 128.17 and 128.41).
     
  • Major support - 127.95 (21-4 HMA)
     
  • The pair has jumped sharply after declining till 127.07. It is currently trading around 128.22.
     
  • On the higher side, any break above trend line resistance 128.50 will take the pair till 129.50/130.
     
  • The major support for the intraday stands around 127.50 and any break below will drag the pair till 126.60/125.80.

It is good to buy above 128.50 with SL around 127.90 for the TP of 129.50/130

 

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