GBPJPY trades slightly above 50- day MA, jump till 141.20 likely
Major resistance - 139.45 (50- day MA)
GBP/JPY has shown a massive jump yesterday after making a low of 135.59. The pair broken major resistance of 138 and jumped till 139.96. It is currently trading around 139.80.
GBP has made a flash rally yesterday after UK PM May shock decision to call a snap general election for Jun 10th.GBP hits highest level since Oct 2016 against USD yesterday.
On the higher side , the pair is showing a minor jump above 50- day MA today morning. Any break above 139.45 will take the pair to next level 140.19/141.16 (100- day MA).
The near term support is around 139 (55- day EMA) and any break below will drag the pair till 138 (21- day EMA)/ 137.78 (daily Tenken-Sen).
It is good to buy on dips around 139.65-70 with SL around 139 for the TP of 141.16.
GBP/JPY has shown a massive jump yesterday after making a low of 135.59. The pair broken major resistance of 138 and jumped till 139.96. It is currently trading around 139.80.
GBP has made a flash rally yesterday after UK PM May shock decision to call a snap general election for Jun 10th.GBP hits highest level since Oct 2016 against USD yesterday.
On the higher side , the pair is showing a minor jump above 50- day MA today morning. Any break above 139.45 will take the pair to next level 140.19/141.16 (100- day MA).
The near term support is around 139 (55- day EMA) and any break below will drag the pair till 138 (21- day EMA)/ 137.78 (daily Tenken-Sen).
It is good to buy on dips around 139.65-70 with SL around 139 for the TP of 141.16.
