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GBPJPY stabilizes after hitting a low of 126.54. It has jumped till 129.22 and is currently trading around 128.35. The overall trend is still weak as long as resistance 130-130.25 holds
USDJPY took support near 105 and jumped more than 150 pips. The near term resistance stands around 107-107.10 and any jump till 107.40/107.99 possible if pair breaks above that level.
Technically, GBPJPY's first resistance is around 129.35 and any violation above will take the pair till 130.06-130.23. The major decline will come to an end at 126.54 if pair trades above 130.23 level.
On the flip side, near term support is around 128 and any break below 126.50/126.
It is good to buy on dips around 127.55-60 with SL around 129.35/130.
