FxWirPro: GBP/JPY Trade idea

• Major support – 144 (55 EMA and trend line support).
   
• GBP/JPY has made a high of 146.40 yesterday after forming a minor bottom at 144. It is currently trading around 146.17.
   
• On the higher side, minor resistance is around 146.40 (61.8% retracement of 147.77 and 144) and any break above will take the pair till 147.10/147.70.
   
• Any intraday bearishness can be seen only below 145.30 (21- day EMA) level. Any break below will drag the pair down till 144/143.20 (50% retracement of 138.67 and 147.77)/142.25 (100- day MA).
   
• Overall bearish invalidation only above 148.11 level.
  
  It is good to buy on dips around 146 with SL around 145.30 for the TP of 147.60/148.

 Resistance
                   

R1- 146.40

 

R2 -147.70
 

R3- 148.11
 

Support   
 

S1-145.30
 

S2-144

 

S3-143.29