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GBP/JPY has shown good recovery of more than 100 pips yesterday on account of BOJ monetary policy. The pair hits high of 147.01 and shown a minor decline, Intraday trend of the pair is still bullish as long as support 146 holds.On the higher side it should break above 147 (55- day EMA) for further upside till 148.11. Major event for pair is to be released tomorrow BOE’s monetary policy and UK inflation data which will have major impact on this pair. It is trading around 146.68.
On the lower side, near term support is around 145 and any break below will take the pair to next level till 144.35/143.
It is good to buy on dips around 146.55-60 with SL around 146 for the TP 148.10.
