FxWirePro: GBP/JPY trades higher on strong Pound sterling, good to buy on dips

• Major Resistance – 152.86 (Sep 21st 2017 high).
   
• GBP/JPY is continuing its bullish trend and has jumped almost 240 pips yesterday on account of strong Pound sterling. The pair broken psychological resistance at 152 (Nov 1st high) and hits high of 152.40.
   
• The pair has closed above major trend line resistance at 151.10 and is trading around 152.32 level. The pair is trading bullish and any break above 152.86 confirms major bullishnes.
   
• The pair’s intraday weakness can be seen below 151.60 (hourly Kijun-Sen) and any violation below will drag the pair to next level till 150.85 (50- H MA)/150. Any break below 150 confirms minor weakness, a dip till 147 cannot be ruled out.
   
• GBP/JPY formed temporary top around 152.86 and started to decline from that level. Any overall trend reversal only above 152.86. The near term major resistance is around 152.86 and any convincing jump above will take the pair to next level till 154/155.

It is good to buy on dips around 151.65-151.70 with SL around 150.80 for the TP of 152.86/155.