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FxWirePro: GBPJPY struggles to close above 200- day MA any close above targets 146

GBPJPY is trading higher for fourth consecutive day and jumped more than 200 pips GBP was trading higher against all major especially with USD and jumped more than 150 pips from low of 1.28900 after strong wage growth and markets eye UK PM May and EU Commission chief Jean-Claude Juncker meeting. The pair hits high of 145.04 and is currently trading around 144.76.

 

On the higher side, near term resistance is around 144.75 and any convincing break above targets 145.28 (300- day EMA). Any break above confirms further bullishness and a jump till 145.85/147 is possible.

 

The near term support is around 143.70 (100- day MA) and any break below will drag the pair to next level till 143/142.The pair should break below 141 for further weakness

 

It is good to buy above 145 with SL around 144.20 for the TP of 147/148.40.

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