FxWirePro: GBP/JPY faces strong trend line support at 141.60, good to buy on dips

• GBP/JPY has once again declined slightly after showing a minor jump till 142.68 yesterday. The pair is facing strong support at 141.65 (trend line support and 233 H MA).The JPY trades higher against all major pair after renewed tensions in North Korea. It is currently trading around 142.22.
   
• The pair declined till 141.19 from the minor top of 142.99 made on Sep 1st 2017. The decline from 147.77 will come to an end at 139.30 if the pair breaks above 143.20 level.
   
• On the lower side, major support is around 141.65. Any hourly close below 141.65 will drag the pair till 140.73 (61.8% fibo)/140. Minor bearish continuation only below 139.30 level.
   
• The near term resistance is around 142.40 (61.8% fibo) and any break above will take the pair till 143.20/144.

It is good to buy on dips around 141.75-80 with SL around 141.35 for the TP of 142.99/143.20.