Major support -147.40
GBPJPY is trading weak for the day after a long consolidation and hits low of 147.41 at the time of writing. It is currently trading around 147.58.
On the lower side, near term support is around 147.40 and any break below confirms minor weakness and a decline till 146.65 (200- H MA)/146.25 is possible. Markets eye UK Parliamentary vote on Brexit deal for 3rd time and this week lot of important data such as UK average earnings and CPI data.
The near term major resistance is around 148.40 and any break above will take the pair to next level till 148.87/149.40/149.80.
It is good to buy on dips around 147.40 with SL around 147 for the TP of 148.40/148.78.
