Bullish divergence (RSI AND CCI 4 hour chart)
GBPJPY trading lower for past two month and lost nearly 800 points from high of 148.87.It hits intraday low of 140.96 and is currently trading around 141.17. The decline was mainly due to weakness in GBP due to Brexit uncertainty. GBP has lost more than 250 pips in past 2 week from high of 1.31753.
The near term resistance is around 141.65 and any violation above targets 142.20/143.06. It should break above 143.06 (55- 4H EMA ) for further bullishness.
On the lower side, near term major support is around 140.50 and any violation below targets 140/137.36.
It is good to buy on dips around 141 with SL around 140.50 for the TP of 143.