• Pattern formed – Triple bottom (Near 141)
   
• Major resistance - 142.45 (trend line joining 144.78 and 144.69)
   
• Major Intraday support – 141 (55- day EMA)
   
• GBP/JPY has once again declined after declining till 141.19 at the time of writing. It has taken support near 55- day EMA and minor weakness can be seen only below that level.
   
• The pair is facing strong trend line resistance at 142.45 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
   
• On the lower side, any break below 140.95 (Feb 14th low) - 141 will drag the pair till 139.58 (200- day MA).
  
  
  It is good to buy on dips 141.85-141.90 with SL around 141 for the TP of 144.13/144.78.