Major support – 136.60 (21 day MA)
GBP/JPY has slightly recovered after making a low of 136.69. It is currently trading around 136.95.
On the lower side, any break below 136.60 will drag the pair down till 135.80/134.10 (61.8% retracement of 128.60 and 143.23).
The minor resistance is around 137.90 (hourly Tenken-Sen) and break above targets 138.40/139.16/139.83 (200 HMA).
Overall bearish invalidation only above 143.23.
It is good to sell below 136.60 with SL around 137.25 for the TP of 135.80/134.20
GBP/JPY has slightly recovered after making a low of 136.69. It is currently trading around 136.95.
On the lower side, any break below 136.60 will drag the pair down till 135.80/134.10 (61.8% retracement of 128.60 and 143.23).
The minor resistance is around 137.90 (hourly Tenken-Sen) and break above targets 138.40/139.16/139.83 (200 HMA).
Overall bearish invalidation only above 143.23.
It is good to sell below 136.60 with SL around 137.25 for the TP of 135.80/134.20