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GBP/JPY has taken support near trend line 180 (trend line joining 167 and 174.86) and slightly recovered from that level.
- The pair's further weakness can be seen only below 179.90
- Any break below 179.90 will drag the pair further down till 177.20/175 in short term.
- The pair's short term support is around 181
- On the higher side any break above 181.65 confirms intraday bullishness, a jump till 182.75/183.35.
It is good to buy at dips around 181.60-70 with SL around 181 for the TP of 183.30
Resistance
R1- 182.60
R2-183.35
R3- 184
Support
S1-181
S2-179.90
S3-177.20
