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FxWirePro: GBPJPY trades above 200HMA, jump till 142.47 likely

GBPJPY is recovering after a long consolidation. The pair hits low of 140.67 and once again jumped more than 80 pips from that level. The pair has broken high of 141.32 made on Aug 16th and slightly trading above 200 H MA. It is currently trading around 141.57.

On the higher side, any convincing close above 200- H MA at 141.36 confirms minor bullishness and a jump till 142.47 is possible. The pair should break above 142.47 for further bullishness.

The near term major support is around 140.60 and any violation below targets 139.89/139.The minor support is around 141.

It is good to buy on dips around 141.25-30 with SL 140.70 for the TP of 142.47.

 

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