As per our analysis GBPJPY recovered sharply nearly 100 pips from intraday low of 144.05.The jump was mainly due to sudden surge in GBP against USD and jumped nearly 100 pips from low of 1.29265.The latest talks happened between ministers and labor were productive and positive.Markets eye UK manufacturing PMI and BOE monetary policy for further direction.It hits high of 145.06 and is currently trading around 145.02.
On the higher side, near term resistance is around 145.02 (300- H EMA) and any hourly close above will take the pair to next level 145.60/146.20.
The near term major support is around 144.50 and any violation below will drag the pair to next level till 144/143.75.
It is good to buy on dips around 1444.90-95 with SL around 144.50 for the TP of 146.
