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- Major support - 126.60 (trend line joining 125.98 and 126.26).
- Major resistance- 128.60 (trend line joining 127.70 and 127.89).
- GBP/JPY has once again recovered after making low of 126.60. It is currently trading around 127.30.
- On the higher side, resistance is around 128.60 any violation above will take the pair to next level till 129.50/130 in the short term.
- Short term weakness can be seen only below 126.60 and any indicative break below targets 126.25/125.90.
It is good to buy on dips around 127.-127.10 with SL around 126.60 for the TP of 128.60
