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- GBPJPY declined slightly after hitting high of 142.90. The pair hits low of 142.39 for the intraday. It is currently trading around 142.42.
- The downside is capped by minor trend line support at 142.30 (trend line joining 141.56 and 141.80) and any break below will drag the pair down till 142.05 (23.6% retracement of 139.30 and 142.90)/141.40 (100- HMA).Minor bearishness can be seen below 141.40.
- On the higher side, major resistance is around 143.20 and any break above will take the pair till 144/145. Overall bearish invalidation only above 148.11.
It is good ot buy on dips around 142.30-35 with SL around 141.50 for the TP of 144/145.
