GBPJPY has declined more than 100 after a more than 350 pips recovery from low of 141.17.The minor jump was due to slight jump in GBP after Theresa May won no-confidence vote. But Brexit uncertainty stills prevails. The pair hits intraday low of 142.70 and is currently trading around 142.69.
UK government will carry out the vote on PM May’s Brexit deal by Jan 19th 2019 since Parliament returns to office on Jan 7th 2019.GBP is trading lower after a 200 pips jump from low of 1.24765 against USD. The pair should break above 1.2715-20 for further bullishness.
On the higher side, near by resistance is around 143.75 (89- 4H EMA) and any break above targets 144.55/145/146.The pair should break above 146 for further bullishness.
The near term support is around 142.50 and any violation below targets 142/141.17. The major support is around 141.17 low made on Dec 10th 2018.
It is good to sell on rallies around 143.55-60 with SL around 144.15 for the TP of 141.20.
