GBPJPY is trading weak for third consecutive day and lost nearly 200 pips from the high of 148.57 on account of Brexit uncertainty. GBP was trading lower against all major especially with USD and lost more than 250 pips from high of 1.3350 level. The pair hits low of 146.60 and is currently trading around 146.92.
On the lower side, near term support is around 146.30 (10-day MA) and any violation below will drag the pair to next level till 146/145.35 (300- day EMA).
The near term major resistance is around 147.78 and any violation above targets 148/148.60. Any convincing break above 148.60 will take the pair to next level 149.30/149.70.
It is good to sell on rallies around 147.10-20 with SL around 147.80 for the TP of 146/145.35.
Resistance
R1- 147.78
R2 -148
R3-148.60
Support
S1- 146.30
S2- 146
S3- 145.35
