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- Major support -156 (200 day HMA& daily Tenken-Sen)
- Major intraday resistance -157.35 (daily Kijun-Sen)
- GBP/JPY has made a low of 155.67 on Friday and slightly recovered from that level. It is currently trading around 156.15.
- Minor weakness can be seen only below 156. Any indicative break below 156 will drag the pair down till 155.50/155.25/154.40.
- Short term bullish invalidation only below 153.50.
- On the higher side any break above minor resistance 156.60 (10 day EMA) will take the pair to next level till 157.35/158/158.50.
It is good sell on rallies around 156.45-50 with SL around 157.35 for the TP of 154.40/153.50.
