GBPJPY is trading in narrow range yesterday after hitting high of 147.19. Due to Brexit uncertainty GBP trades highly volatile. It is holding higher against USD and any break above 1.3200 confirms further bullishness. UK MPs finally voted in favour of delay bill in House of commons by 313 votes to 312 which will force PM May to ask for further extension to avoid no deal Brexit.extension of broken major resistance 146.50 after a long consolidation. It hits high of 147.09 and is currently trading around 147. The jump was mainly due to weakness in yen on account of rising US
bond yield and easing trade tensions. UK services PMI came at 48.9 for month of Mar compared to forecast of 51.
On the lower side, near term support is around 146.12 (20- day MA) and any violation below will take the pair to next level till 145.85/145.45 (300- day EMA)/145.
The near term resistance is around 147.20 and any break above will take the pair to next level till 147.65/148.27.It should break above 148.87 for further bullishness.
It is good to buy on dips 146.55-60 with SL around 145.90 for the TP of 148.85.
