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- GBP/JPY has shown a minor jump till 148.59 from the bottom of 146.95 made on Sep 8th 2017. The pair is consolidating for the past two days. It is currently trading around 148.18.
- Pound sterling was trading higher for the past two days on account of better than expected UK manufacturing and Industrial production data.
- The intraday trend is still weak as long as resistance 149.10 (support turned into resistance) holds.
- On the lower side, major support is around 147.70 and any violation below will drag the pair to next level till 146.95 (Sep 8th 2017 low)/145.63 (61.8% fibo).
- The near term resistance of the pair is around 149.10 and any break above will take the pair to next level till 150.25/151.30.
It is good to sell on rallies around 148.45-50 with SL around 149.10 for the TP of 147/145.70.
