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Minor trend line resistance - 145 (trend line joining 146.50 and 145.48)
GBPJPY has halted its 3 week of downtrend and shown a good jump of more than 150 pips from low of 143.75. The pair has declined till 143.81 well below 200- day MA 144.62 and now trading around 144.99.
The pair is holding above 200 day MA for past 5 hour and this confirms further bullishness. Any break above 145.45 (300- day EMA) will take the pair to next level till 146/146.50.
On the lower side, near term support is around 144.60 and any violation below will confirms intraday weakness, dip till 144.13/143.75 likely.
It is good to buy on dips around 144.90-145 with SL around 144.55 for TP of 146.50.
