- GBP/JPY has shown a huge buying at the low of 147.29 made yesterday. The pair jumped till 149.03 and is currently trading around 149.10.
- The pair should break above 149.15 high made yesterday and also trend line resistance for minor bullishness.
- The intraday trend is bullish as long as support 148.40-148.45 (38.2% fibo) holds.
- On the higher side, near term major resistance is around 149.15 (trend line resistance) and any break above confirms intraday bullishness, a jump till 150.25/151.60 likely.
- The near term support is around 148.40 and any violation below will drag the price till 147.70/146.95 for the day. Short term weakness below 146.95.
It is good to buy on dips around 148.60-65 with SL around 148 for the TP of 150.25/151.60.
Resistance
R1- 149.15
R2 150.25
R3- 151.60
Support
S1- 148.40
S2-147
S3-145.63
