FxWirePro: GBP/JPY trade idea

• Major resistance- 136.25 (61.8% retracement of 143.23 and 126.26)
   
• The pair breaks major resistance 61.8% fibo after declining till 134.18 yesterday .The pair has jumped till 136.56 yesterday. It is currently trading around 136.22.
   
• Short term trend is still bullish as long as support 134.10 (5- day MA) holds.
   
• Any violation below 5- day MA will drag the pair down till 132.70 (100- day MA)/131.45 (10- day MA).
   
• On the higher side, any break above 136.25 will take the pair to next level till 138/138.85 in the short term.
  
  It is good to buy on dips around 136 with SL around 134.90 for the TP of 138/138.85.

Resistance                                                                   R1-136.60

R2-138

R3-138.85

Support               

S1-134.10

S2-132.70

S3- 131.45