Major resistance 146.50
GBPJPY trades higher and jumped more than 100 pips yesterday on weak yen The yen was trading weak against USD and recovered sharply after a minor decline below 300- day EMA. EU leaders have extended Brexit deal by Oct 31st. But no major break through in cross party talks is putting pressure on GBP.
On the higher side,146.50 will be acting as near term resistance and any break above will take the pair to next level till 147.20. It should break above 147.20 for further bullishness.
The near term support is around 145.68 (200- H MA) and any break below will take the pair to next target around 145/144.68.
It is good to buy on dips around 145.60-65 with SL around 145 for the TP of 147.15.
