- Major resistance- 138
- Major support – 135.15 (7-day EMA)
- GBP/JPY has jumped sharply after declining till 135.40 level. The pair declined till 135 and started to jump from that level.
It is currently trading at 136.43.
- The pair downside capped by 7- day EMA and any break below confirms minor weakness , a decline till 133.90 (10- day MA)/131.85 (daily Kijun-Sen).The minor support is around 136 (5- day MA).
- On the higher side, major resistance is around 138 and any break above will take the pair till 138.85/140.
It is good to sell on rallies around 136.50 with SL around 135.40 for the TP of 138/138.80
Resistance
R1-138
R2-138.85
R3- 140
Support
S1-135.15
S2-133.90
S3- 131.85
