FxWirePro: GBPJPY trade slower Brexit uncertainty and declining bond yield, good to sell on rallies

GBPJPY trading lower after hitting high of 146.50 yesterday on strong yen and Brexit uncertainty. UK MPs has rejected all alternative options yesterday.Proposals for a customs union with the EU were rejected by 272 to 264 and plan for another referendum got failed by 295 to 268.They also rejected all 8 indicative Brexit votes including no deal,a common market ,Labour’s alternative plan etc.GBPUSD declined till 1.31650 and shown a minor recovery.The pair hits intraday low of 145.08 and is currently trading around 145.17.

On the lower side, near term support is around 145 and any close below will take the pair to next level till 144.60/144.13/143.65.

The near term resistance is around 146 and any break above will take the pair to next level till 146.50/146.72/147.17 (61.8% fib).

It is good to sell on rallies around 145.55-60 with SL around 146.10 for the TP of 144.15.