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- Major resistance – 152.09 (Dec 27th 2017 high).
- GBP/JPY has jumped slightly after breaking trend line resistance. The pair hits high of 152.08 and is currently trading around 152.02.
- The pair should close convincingly above 152 for the next minor jump. Any close above 152 will take the pair to next level till 153/153.40. It should break above 153.40 for jump till 155/157.
- The near term support is around 151.40 (55- 4H EMA) and any break below will drag the pair till 151.27 (100- 4H MA)/150.58 (200- 4h EMA)/150.10.
It is good to buy on dips around 151.90-95 with SL around 151.50 for the TP of 153.40/155.
Resistance
R1- 152.10
R2 -153
R3-153.40
Support
S1-151.40
S2- 151
S3-150.58
