- GBP/JPY has formed a minor bottom around 141.19 previous week and shown a good recovery from the low till 143.05 at the time of writing. It is currently trading around 143.16.
- The pair’s major resistance is around 143 high made on Sep 1st 2017 and any convincing break above will take the pair to next level till 144.66 (61.8% Fibo)/145.27 (Aug 8th high).
- Overall bullish invalidation can be seen only below 139.30 low made on Aug 24th 2017.
- The near term support is around 142.50 (34- day EMA) and any break below will drag the pair till 142.25 (daily Kijun-Sen)/141.19.
It is good to buy on dips around 143.05-143.10 with SL around 142.48 for the TP of 144.65/145.27.
