- Major support - 126.60 (trend line joining 125.98 and 126.26).
- Minor resistance- 127.65 (55- 4H EMA).
- GBP/JPY has once again retreated after jumping till 127.68. It is currently trading around 126.95.
- 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 127.25-30 with SL around 128 for the TP of 125.90.
Resistance
R1-127.68
R2-128.60
R3-129.50
Support
S1-126.60
S2-125.90
S3- 124.80
