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- GBP/JPY has shown a good jump of almost more than 150 pips from yesterday’s low of 148.96 on account good slight decline in yen. The yen declined yesterday more than 150 pips against USD as US –China trade war tension eases. GBP/JPY recovered till 150.59 and is currently trading around 149.76.
- The major resistance is around 150.60 (100- day MA) and any break above targets 150.95/151.50. The major trend reversal only above 150.95.
- On the lower side, near term support is around 149.65 (55- day EMA) and any close below will drag the pair till 149.28 (23.6% fibo)/149/147.95 (daily Kijun-Sen).
It is good to sell on rallies around 150.10-20 with SL around 150.60 for the TP of 148/147.60.
