Major support- 143.75
GBPJPY has formed double bottom around 143.75 and shown a minor jump of 50 pips from that level the minor recovery was mainly due to slightly jump in GBPUSD from low of 1.2865 on absence of negative Brexit news. Overall trend is weak on account of Brexit pessimism.It hits intraday high of 144.29 and is currently trading around 144.27.
The BOJ Governor Kuroda said that rates could be kept low for another one year time frame on weak global economy and US-China trade tensions. USDJPY was trading lower after policy and lost nearly 80 pips.
On the higher side, near term resistance is around 144.38 (55- H EMA) and any break above will take the pair to next level 145/145.28-32 (300 H EMA and 200-H MA)..
The near term major support is around 143.75 and any violation below will drag the pair to next level till 143.
It is good to buy on dips around 144.10-15 with SL around 143.75 for the TP of 145.25.
