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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