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- GBP/JPY has taken support near trend line and shown a good jump of more than 200 pips form the low of 147.05. The pair jumped till 149.31 and is currently trading around 148.61.
- The pair is facing strong resistance at 200- day MA at 149.17 (200- day MA) and any convincing close above 200- day MA will take the pair to next level till 149.88 (55- day EMA)/150/150.64 (100- day MA).
- On the lower side, near term major support is at trend line is around 147 and any decline below will drag the pair to next level till 146.60/145. The minor support is around 147.60.
It is good to buy above 149.20 with SL around 148.50 for the TP of 150.64/151.
