GBPJPY is trading higher and jumped more than 200 pips from low of 143.78 made on Feb 22nd 2019. The pair has broken major resistance 145 after a long consolidation yesterday. GBP was trading higher against USD on hopes of delay in Brexit deal till 2021.Cable is trading above high of 1.31093 made on Feb 20th 2019 and a jump till 1.32179 Jan 25th high is possible. The pair hits high of 145.96 and is currently trading around 145.82.
The near term support is around 145.26 (300- day EMA) and any break below will drag the pair to next level till 144.65 (5- day MA)/144.05. Any break below 143.75 confirms bearish continuation.
On the higher side near term resistance is around 146 and any break above targets 147.92/148.73.
It is good to buy on dips around 145.10-20 with SL around 144 for the TP of 147.80.
