FxWirePro: GBP/JPY faces trend line resistance at 151.10, any break above targets 152.86

• Major Resistance – 151.10 (Trend line joining 152.86 and 150.32).
   
• GBP/JPY has jumped almost 200 pips yesterday on account of strong Pound sterling. The pair broken psychological resistance at 150 and hits high of 151.04.
   
• The pair has closed above 150 level for the two consecutive days for first time since Nov 8th 2017. This confirms minor bullishness, a jump till 152.86 cannot be ruled out.
   
• The pair’s minor weakness can be seen below 150.30 and any violation below will drag the pair to next level till 150/149 (233- 4H MA)/148.60. Any break below 147 confirms major weakness, a dip till 145 cannot be ruled out.
   
• GBP/JPY formed temporary top around 152.86 and started to decline from that level. Any overall trend reversal only above 152.86. The near term resistance is around 151.40 and any convincing jump above will take the pair to next level till 152/152.86 Overall trend reversal only above 152.86.

It is good to buy on dips around 151-151.05 with SL around 149.95 for the TP of 152.86/155.