FxWirePro: GBP/JPY trade idea

• 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