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- GBP/JPY has shown a huge jump after forming a bottom at 151.97 on Jan 30th 2018. The pair recovered sharply almost more than 300 pips. It is currently trading around 156.14.
- Intraday trend is bearish as long as resistance 155 holds.
- On the lower side, minor support is around 155.25 (23.6% fibo) and any break below will drag the pair to next level till 155/154.60/154.08/153. Major weakness can be seen below 151.95.
- The near term resistance is around 156.10 and any break above will take the pair to next level till 157/158.
It is good to buy on dips around 155.85-90 with SL around 155 for the TP of 157/158.
