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Long

GBP/JPY: Buy above 128.50

FX:GBPJPY   British Pound/Japanese Yen
292 0 8
Major resistance – 128.50 ( trend line joining 128.17 and 128.41)

Major support - 127.95 (21-4 HMA )

The pair has jumped sharply after declining till 127.07. It is currently trading around 128.22.

On the higher side, any break above trend line resistance 128.50 will take the pair till 129.50/130.

The major support for the intraday stands around 127.50 and any break below will drag the pair till 126.60/125.80.

It is good to buy above 128.50 with SL around 127.90 for the TP of 129.50/130
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