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- Major support - 126.15 (trend line joining 125.91 and 126.12)
- Minor resistance- 128.03 (100- 4H EMA)
- GBP/JPY has once again recovered after declining till 126.60.It is currently trading around 127.32.
- On the higher side, resistance is around 128.03 any violation above will take the pair to next level till 128.60/129.50 in the short term.
- Short term weakness can be seen only below 126.60 and any indicative break below targets 126.15/124.85.
It is good to sell on rallies around 128 with SL around 128.60 for the TP of 125.90/124.85.
Resistance
R1-128.05
R2-128.60
R3-129.50
Support
S1-126.60
S2-126.15
S3- 124.85
