• Major resistance- 146 (61.8% retracement of 148.45 and 142.17).
   
• Major support - 143.50 (21- day EMA)
   
• GBP/JPY taken support near 21- day EMA and jumped sharply from that level.  It is currently trading around 144.54.
   
• Short term trend is still bullish as long as support 143.50 holds.
   
• Any violation below 143.50 will drag the pair down till 142/140 in the short term.
   
• On the higher side, any break above 145 will take the pair to next immediate resistance at  145.40 (Jan 3rd 2017 high)/146/147 (trend line joining 163.89 and 148.45).
  
  It is good to buy on dips around 144.40-144.50 with SL around 143.50 for the TP of 146/147