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- GBP/JPY has jumped sharply from the low of 152.08 and hits high of 154.28.The pair recovered almost 230 pips and shown a minor dip from the level. It is currently trading around 153.87.
- Intraday bias is bullish as long as support 153 holds. The pair has broken double top formed at 153.60 and this confirms minor bullishness.
- The pair is facing major support at 153.30 (hourly Kijun-Sen) and any break below will drag the pair to next level till 153.05 (55- H EMA)/152.57 (100- H MA)/152.08). Short term bullish invalidation is only below 150.80.
- The major resistance is around 154 and any break above will take the pair till 155/155.84 (161.8% fibo).
It is good to buy on dips around 153.50 with SL around 153 for the TP of 155/155.80.
