- Major intraday resistance -129.16 (34 day EMA)
- Major support – 126.40 (trend line joining 125.91 and 126.12).
- GBP/JPY has broken major resistance 129.15 (34- day EMA) and jumped till 130.23 at the time of writing. It is currently trading around 129.87.
- Any close above 34- day EMA confirms minor bullishness . So a jump till 132 can be seen.
- On the lower side, 128.50 (daily Tenken-Sen) will be acting as short term support and any indicative break below 128.50 will drag the pair down till 127.70/126.40 in the short term. The minor support is around 129.
It is good to buy on dips around 129.40-45 with SL around 128.50 for the TP of 132.
Resistance
R1-130.25
R2-131
R3-132
Support
S1-128.50
S2-127.70
S3- 126.40
