GBPJPY is trading higher and shown a good recovery of nearly 90 pips from yesterday’s low of 144.89 on positive Brexit news. EU leaders agreed to extend article 50 till Oct 31st. The pair hits intraday high of 145.70 and is currently trading around 145.49.
GBP is trading higher against all majors especially with USD and is hovering around 1.3100 level. Any close above 1.3108 (300 day EMA) confirms bullish continuation and a jump till 1.3260/1.3300 is possible.
On the higher side,145.70 (38.2% fib) and any break above will take the pair to next level till 146.05/146.26/146.51. It should break above 147.20 for further bullishness.
The near term support is around 144.68 (200- day MA) and any break below will take the pair to nex target around 144.13/143.75.
It is good to buy on dips around 145.15-20 with SL around 144.60 for the TP of 147.15.
