FxWirePro: GBP/JPY struggles to break below 135, good to buy on dips
Major support – 135.09 (38.2% retracement of 138.83 and 129.06). Major resistance – 137.66 (55-day EMA). GBP/JPY has once again recovered after making a low of 135.17. It is currently trading around 135.90. On the lower …
Major support – 135.09 (38.2% retracement of 138.83 and 129.06).
Major resistance – 137.66 (55-day EMA).
GBP/JPY has once again recovered after making a low of 135.17. It is currently trading around 135.90.
On the lower side, major support is around 135.09 (38.2% retracement of 138.83 and 129.06) and any break below will drag the pair to next immediate support at 133.99/13 in the short term.
The pair is facing strong resistance at 10- day MA and any break above targets 137.15/138.It should close above 138.85 for further bullishness.
It is good to buy on dips around 135.85-90 with SL around 135 for the TP of 136.90/138.
