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Short

GBP/JPY upside capped by 7 day EMA, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
315 1 17
Major resistance – 134.40 (7 day EMA).

The pair has declined sharply from the high of 134.02 yesterday. It is currently trading around 133.11.

In the hourly chart, GBP/JP Y is trading slightly well below Tenkan-Sen (133.25) and Kijun-Sen (133.45).

On the higher side, the pair should break above 134.40 for further bullishness. Any break above 134.40 will take the pair till 135.25/135.50/136.25.

It must break above 140 for the short-term trend reversal. The support is around 132.20 (Aug 6th low) and the break below will drag the pair till 131.60/130.

It is good to sell on rallies around 133.20-133.30 with SL around 134.40 for the TP of 132.20/130
SumathiDenward
3 months ago
its good sell the rallies 133.20 and take profit 135.50 .. i think ur typed incorrectly
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