GBPJPY was trading higher yesterday and jumped more than 100 pips from low of 136.55 The jump was mainly due to slight jump in Pound on account of short covering. GBPUSD jumped more than 150 pips in past three trading days. The pair hits high of 137.78 and is currently trading around 137.35.
On the lower side, major support is around 136.50 and any violation below will take the pair to next level till 135.80/135.
The major trend reversal level is around 138 and any violation above will take the pair to next level till 138.73/139.20.
It is good to buy on dips around 137 with SL around 136.50 for the TP of 138.70.
