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GBP/JPY has once again declined after showing a jump above 149 level. The pair hits high of 149.09 and declined nearly 75 pips from that level. Overall trend is still bearish as long as resistance 150 holds.
On the lower side, near term support is around 148.20 (200- day MA) and any break below will drag the pair till 147.39 (23.6% fib)/146.94/145.85 (20- day MA).
The near term major resistance is around 149.30 and any break above targets 150/151.
It is good to sell on rallies around 148.95-149 with SL around 150 for the TP of 147/146.
