2017.04.1908:08:00UTC+00Fxwirepro: Gbpjpy Trade Idea

• 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 140.08.
   
• 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.

Resistance                                                                  R1-140                    

R2 -141.16

R3- 142

Support                   

S1-139

S2-138

S3-137.78