- GBP/JPY is trading slightly above 152 level after a week of consolidation. The pair hits high of 152.51 on Friday and is currently trading around 152.36.
- The pair closed slightly above 152 on Friday and this confirm minor bullishness and jump till 153.40 is possible. It should break above 153.40 for jump till 155/157.
- The near term support is around 151.50 (55- 4H EMA) and any break below will drag the pair till 151.27 (100- 4H MA)/150.69 (200- 4H EMA)/150.10.
- Major economic indicator to be released is UK Manufacturing PMI. Any better than expected PMI data will take the pair further high.
It is good to buy on dips around 152.20-25 with SL around 151.80 for the TP of 153.40.
