GBP/JPY trades in narrow channel, good to buy on dips
Major support - 126.60 (trend line joining 125.98 and 126.26).
Major resistance- 128.60 (trend line joining 127.70 and 127.89).
GBP/JPY has once again recovered after making low of 126.60. It is currently trading around 127.30.
On the higher side, resistance is around 128.60 any violation above will take the pair to next level till 129.50/130 in the short term.
Short term weakness can be seen only below 126.60 and any indicative break below targets 126.25/125.90.
It is good to buy on dips around 127.-127.10 with SL around 126.60 for the TP of 128.60
Major resistance- 128.60 (trend line joining 127.70 and 127.89).
GBP/JPY has once again recovered after making low of 126.60. It is currently trading around 127.30.
On the higher side, resistance is around 128.60 any violation above will take the pair to next level till 129.50/130 in the short term.
Short term weakness can be seen only below 126.60 and any indicative break below targets 126.25/125.90.
It is good to buy on dips around 127.-127.10 with SL around 126.60 for the TP of 128.60