GBP/JPY Trade idea

• Major resistance – 154.80 (3 W EMA)
   
• Minor support -153.25
   
• The pair has jumped till 154.22 on Friday and declined from that level. It is currently trading around 153.34.
   
• Short term trend is slightly weak as long as resistance 154.80 holds. Any break above 154.80 will take the pair till next level 155.80/157.10/158 in short term.
   
• On the lower side major support is around 151.50 and break below targets 150/148.40.
   
• Short term bearish invalidation only above 158 level.

It is good to buy at dips around 153.65-70 with SL around 153.25 for the TP of 154.80/155.80

R1-154.25

 R2-154.80

R3-155.80

Support

S1-1.4000

S2-1.3920

S3-1.3835