GBP/JPY is trading weak and lost more than 200 pips from yesterday’s high of 147.58. Short term trend is weak as long as resistance 148 holds. It is currently trading around 145.82.
The pair has closed below 200 day MA yesterday and also broken low of 145.81 made on Oct 18th 2018. This confirms minor weakness , a decline till 145.79/143.45.
On the higher side, major resistance is around 146.49-56 (89- day EMA and 55- day EMA) and break above targets 147.58/148.
GBP has once again taken support near 1.29200 and shown a 100 pips jump. Overall trend is still bearish on Brexit uncertainty.
It is good to sell on rallies around 146.55-60 with SL around 147.55 for the TP of 143.50.
