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GBP/JPY breaks major resistance at 134.05, targets 135.25/136

Monday, August 29, 2016 6:05 AM UTC

Major support- 133.25 (hourly Kijun-Sen).
Major resistance- 134.05
The pair has broken major resistance 134.05 after long time consolidation. GBP/JPY trades higher after Yellen sends hawkish signals in Jackson hole meeting.
It has made a high of 134.39 at the time of writing and is currently trading around 134.35.
The intraday trend is still bullish as long as long as support 133.25 holds. Any break a below 133.25 will drag the pair down till 132.67 (100 –H MA) /131.97 (200 –HMA).The pair should close below 131.97 for further weakness.
On the higher side, any break above 134.05 will take the pair to 135.25/136.

It is good to buy on dips around 134 with SL around 133.25 and TP of 135.25/136

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GBP/JPY breaks major resistance at 134.05, targets 135.25/136

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