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- Candlestick pattern – Shooting star (hourly chart).
- GBP/JPY has jumped almost 160 pips from the low of 149.41. The pair hits high of 151.02 and shown a minor decline from that level. It is currently trading around 150.64.
- Technically, the pair made a minor jump above ichimoku cloud and started to fall from that level. The pair should close above 233- H MA at 151.47 for further minor bullishness. Any violation above 151.50 will take the pair to next level till 152.40/153. It should break above 153.40 for short term jump.
- On the lower side, any break below 150.02 (61.8% fibo) will drag the pair to next level till 149.40/149/148. The major support stands around 146.95.
It is good to sell on rallies around 151 with SL around 151.50 for the TP of 150/149.10.
