GBP/JPY has rallied nicely and is currently testing resistance at 148.49. This resistance should ultimately be broken as GBP/JPY continues higher to 151.50 and above. On the way higher solid resistance will be seen at 149.49 but this should be broken too, as GBP/JPY pushes higher.
Support is now seen 147.41 and again at 146.79
R3: 150.52
R2: 149.49
R1: 148.57
Pivot: 147.52
S1: 147.41
S2: 147.00
S3: 146.79
Trading recommendation:
We are long GBP from 144.80 and we will move our stop higher to 146.00
