Major support - 140
GBPJPY was `trading extremely lower and lost more than 200 pips from high of 143.69 made yesterday. The dip was mainly due to Brexit uncertainty. GBP was trading lower against all majors especially with USD has lost more than 250 pips and hits 20-month low as Brexit deal vote got postponed. Markets eye UK wage growth data which is to be released today for further direction. GBPJPY hits intraday low of 141.17 and is currently trading around 142.23.
On the higher side, near term support is around 139.89 low made on Aug 15th 2018 and any break below 138/136.
The near term resistance is around 143 and any convincing break below targets 144.50/146.
It is good to sell on rallies around 143.25-30 with SL around 144.50 for the TP of 140.
