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- Major support – 134.25 (21- day MA).
- Major resistance – 136.45 (10-day EMA).
- GBP/JPY has taken support near 21- day MA and recovered from that level. It is currently trading around 135.94.
- On the lower side, minor 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 134.25 (21- day MA).Any break below 21- day MA will drag the pair down till 133.
- 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 sell on rallies around 136.10-20 with SL around 137.15 for the TP of 135.10./134.30
