Major resistance – 147
GBPJPY has formed a triple top around 147 and declining from that level. It hits high of 147.01 in previous week and currently trading around 145.29.
On the higher side, any break above 145.50 will take the pair to next level till 146.20/147. Any violation above 147.20 confirms minor trend reversal and a jump till 148/148.85.
The near term support is around 145.18 (55- W EMA) and any convincing break below will drag the pair till 144.68/144.13/143.81.
It is good to sell on rallies around 145.95-146 with SL around 147 for the TP of 143.81.
