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- GBPJPY has taken support near trend line and shown a good jump from that level. The pair jumped almost 130 pips from the low of 147.05.It is currently trading around 148.95.
- On the higher side, 148.35 55-W EMA will be acting as major resistance and any break above will take the pair till 149 (34- W EMA)/149.35/150.
- On the lower side, major support is around 147 and nay break below will drag the pair till 146/145.
It is good to buy on dips around 148-148.05 with SL around 147 for the TP of 149.95/150.40.
Resistance
R1- 149.15
R2 –150
R3- 150.40
Support
S1- 147
S2-146.40
S3- 145
