GBP/JPY Trade Idea

• GBP/JPY has made a low of 192.26 in past week and recovered from that level.
   
• Major weekly trend reversal level- 192 break below 192 will drag the pair further down till 191/190.50.
   
• The short term trend reversal level- 193.80 and any break below 193.80 will target 193.38/193 in short term.
   
• Minor resistance is at 195 and above that take the pair to next target to 195.60/195.85.

It is good to buy at dips around 194.30-35 with SL around 193.80 for the TP of 195.25/195.85

Resistance

R1- 195.25

R2-195.85

R3- 197.21

Support

S1-194.40

S2-193.80

S3-193