Major resistance – 137.65 (trend line joining 138.15 and 137.72). Major support – 136.45. The pair has shown huge gap down yesterday on account weakness in GBP. GBP/JPY declined till 136.45 and shown a slight recovery fr…
Major resistance – 137.65 (trend line joining 138.15 and 137.72).
Major support – 136.45.
The pair has shown huge gap down yesterday on account weakness in GBP. GBP/JPY declined till 136.45 and shown a slight recovery from that level. It is currently trading around 137.30.
On the higher side, any break above trend line resistance will take the pair to next level till 138.50 (support turned into resistance)/138.90 (89- H EMA).
The minor support stands at 137 and any break below will drag the pair down till 136.45/135.35 (161.8% retracement of 136.45 and 138.15).
It is good to buy above 137.65 with SL around 137 for the TP of 138.50/138.90
