- Major support – 144 (55 EMA and trend line support).
- GBP/JPY has broken minor trend lien resistance at 145 and jumped sharply till 146.01 at the time of writing. It is currently trading around 145.89.
- On the higher side, minor resistance is around 145.86-146 (10- day MA and 50% retracement of 147.77 and 144.02) and any break above will take the pair till 146.40/147.10.
- Any further bearishness can be seen only below 144 level. Any break below will drag the pair down till 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 145.20-145.25 with SL around 144 for the TP of 146.20/147.60
