GBPJPY is trading lower for third consecutive day and has lost more than 180 pips in this week.The decline was mainly due to huge sell-off in US markets has increased demand for safe haven asset such as god, yen etc. But Brexit uncertainty stills prevails. The pair hits intraday low of 142.02 and is currently trading around 142.16.
On the higher side, near by resistance is around 142.50 (23.6% fib) and any break above targets 143.05 (10- day MA)/144/145.The pair should break above 146 for further bullishness.
The near term support is around 142 and any violation below targets 141.17. The major support is around 141.17 low made on Dec 10th 2018.
It is good to sell on rallies around 143 with SL around 144 for the TP of 141.20.
