- Major support – 134.45 (21- day MA).
- Major resistance – 136.65 (daily Tenken-Sen).
- GBP/JPY has once again recovered sharply after making a low of 134.91. It is currently trading around 135.40.
- The pair has jumped till 136.13 at the time of writing and declined from that level.
- On the lower side, minor support is around 134.45 (21- day MA) and any break below will drag the pair to next immediate support at 133.94/132.80 (61.8% retracement of 129.06 and 138.83).
- The pair is facing strong resistance at daily Tenken-Sen and any break above targets 137.15/138.It should close above 138.85 for further bullishness.
It is good to sell on rallies around 136.10-20 with SL around 137.15 for the TP of 135.10./134.30
