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Long

GBP/JPY: Buy above 135.25

FX:GBPJPY   British Pound/Japanese Yen
338 0 17
Major resistance- 135.25 ( trend line joining 133.29 and 134.39).

Major support- 134.30 (hourly Kijun-Sen)

The pair has broken major resistance 134.45 (7 – day EMA ) yesterday and jumped till 135.20 at the time of writing. It is currently trading at 135.16.

In the hourly chart the pair is trading well above Tenkan-Sen (134.84) and Kijun-Sen (134.31).It should break above major trend line resistance at 135.25 for further jump till 136.25/137.71 ( 61.8% retracement of 143.23 and 129.06).

On the lower side, major support is at 134.30 and break below targets 133.30/132.45 in the short term.

It is good to buy above 135.25 with SL around 134.30 for the TP of 136.25/137.70
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