Major resistance - 146
Major support - 144.15 (Trend line support)
GBPJPY was trading in narrow range between 146 and 144 for past 1-week. The Brexit uncertainty and G20 meeting is putting pressure on the pair. GBP was trading weak against all majors as UK PM May has formally informed that rejection of Brexit deal will lead to no deal scenario. Markets eye Trump and Xi meeting for further direction. If no deal happens after the meeting Japanese yen will gain strength on safe haven asset demand. The pair hits low of 144.52 yesterday and is currently trading around 144.94.
On the higher side, near term resistance is around 146 and any break above 146 targets 146.91 (200-day MA)/148.
The near term support is around 144 and any violation below targets 143/142.77.
It is good to sell on rallies around 145.65-70 with SL around 146 for the TP of 143
