GBP/JPY faces strong support at 9-day EMA, break below targets 135/134
Major support – 135.80 (9- day EMA). Major resistance – 136.53 (23.6% retracement of 138.83 and 135.82). GBP/JPY has broken major support at 136.25 and declined till 135.82 at the time of writing. It is currently trading…
Major resistance – 136.53 (23.6% retracement of 138.83 and 135.82).
GBP/JPY has broken major support at 136.25 and declined till 135.82 at the time of writing. It is currently trading around 135.99.
The Japanese Yen has outperformed against on all major pair’s yesterday on account of weaker than expected US ISM Non -manufacturing index.
On the lower side, major support is around 135.80 (9- day EMA) and any break below will drag the pair to next immediate support at 1352.25/134 in the short term.
Any break above 136.53 will take the pair to next level till 137.25/138/138.85. It should close above 138.85 for further bullishness.
It is good to sell below 135.80 with SL around 136.55 for the TP of 135/134
