GBPJPY was trading highly volatile in past three trading days on account of Brexit uncertainty and US-Sino trade tension. The pair hits high of 146.50 and lost more than 150 pips from the high.US to impose further tariffs to Chines goods has increased demand for safe haven assets like Yen,Swiss franc. Markets eye Brexit cross border talks for further direction. It hits low of 144.69 and is currently trading around 144.74.
On the lower side, the pair is trading below 200- H MA and any violation below will take the pair to next level till 144.13/143.75. Any bearish continuation only below 143.75.
The near term resistance is around 145 and any hourly close will 145.50/146. It should break above 146.50 for further bullishness.
It is good to sell on rallies around 144.85-90 with SL around 145.35 for the TP of 143.75.
