Harmonic pattern- Bullish Gartley Pattern
Potential Reversal Zone (PRZ)- 136
GBP/JPY was trading weak for past 7 trading session and lost more than 700 pips on account of weak Pound sterling. GBP was trading weak with all majors and has lost more than 500 pips from the temporary top made at 1.32132. GBPJPY hits low of 140.24 and is currently trading around 140.82.
On the higher side, near term resistance is around 141.50 and any break above will take the pair to next level till 143/143.60 (7- day MA)/144.43 (10- day MA).
The near term support is around 140 and any break below targets 138/136.
It is good to buy on dips around 140.50-55 with SL around 140 for the TP of 143.
Resistance
R1- 141.50
R2 - 143
R3- 143.60
Support
S1- 140
S2- 138
S3- 136
