 - EconoTimes)
Major resistance 146.50
GBPJPY has broken major resistance 146.50 and jumped till 146.68 at the time of writing .The pair is trading higher for past three trading days and jumped nearly 190 pips.GBP is trading higher against USD and facing strong resistance around 1.3120 and any convincing break above will take the pair till 1.3200/1.32650. EU leaders have extended Brexit deal by Oct 31st. So this is slight positive for GBP.
On the higher side,any convincing break above 146.50 confirms minor bullishness and a jump till 147.20 likely. Any break above 147.20 will take the pair till 148/148.85.
The near term support is around 146 and any break below will take the pair to next target around 145.68/145/144.68.
It is good to buy on dips around 146.55-60 with SL around 146 for the TP of 147.19/148.
