- Major resistance- 137.95 (trend line joining 138.83 and 138.32).
- Major support – 137.50 (55- H EMA).
- The pair has taken support near 55- H EMA and jumped from the level. It is currently trading around 138.03.
- GBP/JPY breaks minor trend line resistance around 137.95 and jumped till 138.17 at the time of writing.
- On the higher side, major resistance is around 138.85 and any break above targets 140/142.40. Any break below 55- H EMA will drag the pair to next immediate level till 137.08 (90- HEMA)/136.25 (9 –W EMA).
- Short term weakness only below 136.25 level.
It is good to buy on dips around 138 with SL around 137.50 for the TP of 138.85/140.
