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FxWirePro: GBPJPY Trade idea

Wednesday, April 19, 2017 12:08 PM UTC

Major resistance - 139.45 (50- day MA).
GBP/JPY has shown a massive jump yesterday after making a low of 135.59. The pair broken major resistance of 138 and jumped till 139.96. It is currently trading around 140.08.
GBP has made a flash rally yesterday after UK PM May shock decision to call a snap general election for Jun 10th.GBP hits highest level since Oct 2016 against USD yesterday.
On the higher side , the pair is showing a minor jump above 50- day MA today morning. Any break above 139.45 will take the pair to next level 140.19/141.16 (100- day MA).
- The near term support is around 139 (55- day EMA) and any break below will drag the pair till 138 (21- day EMA)/ 137.78 (daily Tenken-Sen).
  
  It is good to buy on dips around 139.65-70 with SL around 139 for the TP of 141.16.

Resistance R1-140

R2 -141.16

R3- 142

Support

S1-139

S2-138

S3-137.78

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FxWirePro: GBPJPY Trade idea

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