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- GBP/JPY has shown a good jump of almost 254 pips. The pair hits high of 147.45 yesterday. It is currently trading around 146.60.
- The yen was trading weak against all majors yesterday after slight easing of trade war and safe haven demand. GBP/JPY’s near term resistance is around 147.75 (200- day MA) and any break above will take the pair to next level till 148.50/149. Any close above 150 confirms minor bullishness, a jump till 150.50/150.82.
- On the lower side, near term support is around 146.50 (55- H EMA) and any break below will drag the pair till 146.25 (Hourly Kijun-Sen)/145.
It is good to sell on rallies around 146.85-90 with SL around 147.75 for the TP of 145.
