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- GBP/JPY has taken support near trend line and jumped slightly from that level. The pair hits low of 139.84 and is currently trading around 141.45.
- The pair downside is capped by trend line support at 140 (trend line joining 138.67 and 139.19) and any minor weakness can be seen below that level.
- GBP recovered slightly against all major pair after BOE chief economist Andy Haldane backs interest rate hike.
- On the higher side, any break above 142 will take the pair till 142.54/143.17 (200 4H MA)/143.95.
- Short term bullish invalidation only below 138.50.
It is good to buy on dips around 141.25-142.30 with 140.47 for the TP of 142.54/143.17.
