GBP/JPY faces strong support at 193.40, targets 195.80

FX:GBPJPY   British Pound / Japanese Yen
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GBP/JPY             is trading in narrow range 195 and 193.40. Intraday trend is still bullish as long as support 193.40 holds.

Any break below 193.40 will drag the pair further down till 193/191.95 in short term.

The pair’s major resistance is around 194.85 and any break above confirms trend line break out, a jump till 195.85 is possible.

It is good to buy at dips around 194.05-194.10 with SL around 193.38 for the TP of 195.80
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