- GBP/JPY jumped sharply after hitting a low of 138.67.The pair has broken trend line resistance around 141.50 and hits the high of 142.18 at the time of writing. It is currently trading around 141.96.
- Break above trend line resistance confirms minor bullishness, a jump till 143.80 is likely. Short term is trend is slightly as long as support 138 holds.
- On the higher side, near term resistance is around 142.80 (61.8% retracement of 145.40 and 138.67) and any break above will take the pair till 143.80 (200- 4H MA)/145.40 (May 25th 2017 high).
- The near term support is around 141.70 (Cloud bottom) and any break below will drag the pair till 141.20 (Cloud top)/140.40 (4H Kijun-Sen).
It is good to buy on dips around 141.75-80 with SL around 141 for the TP of 143.80
