Major resistance -146.50.
GBPJPY has once again declined after a jump till 146.35 level. The pair was trading higher on account of weak yen. The yen was trading weak against all majors as global markets having good buying interest from investors on account of trade talks optimism. US 10 year yield recovered more than 7% from 14-month low 2.34%. The pair hits intraday low of 145.22 and is currently trading around 145.28.
On the higher side, near term resistance is around 145.70 (300- H EMA) and any break above will take the pair to next level till 146/146.50.
The major support is around 144.60 and any convincing break below that level targets 144.13/143.75.
It is good to sell on rallies 145.50-55 with SL around 146 for the TP of 143.75.
