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Long

GBP/JPY: Buy on dips

FX:GBPJPY   British Pound/Japanese Yen
384 0 12
Major resistance- 133.30.

Major support – 131.95 (9-day EMA).

The pair formed a double top around 133.30 and declined from that level. It is currently trading around 132.66.

Minor trend is slightly bullish as long as support 131.95 (9 day EMA) holds.

Any break below 131.95 will drag the pair till 131.40 (10- ay MA)/131in the short term.the minor support is around 132.47.

On the higher side, the further upside can be seen above high made yesterday 133.30 and break above targets 134.05/135.25.

It is good to buy on dips around 132.65-70 with SL around 131.95 for the TP of 133.30/134.05
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