- GBP/JPY continuing its weakness for the past two weeks after forming a temporary top around 148.11. The pair hits low of 141.76 at the time of writing and is currently trading around 142.40.
- The decline from 148.11 to 141.76 will come to an end if it breaks above 145.40 level. On the lower side, near term major support is at 141.75 (89 EMA) and any close below confirms bearish continuation, a decline till 140.35/138.45 (200- MA).
- The near term resistance is around 143.30 (23.6% retracement of 148.11 and 141.76) and any break above will take the pair to next immediate level at 144 (21 EMA)/145.40 in the short term.
- Overall bearish invalidation can happen only above 148.11.
It is good to sell on rallies around 142.15-142.25 with SL around 143.40 for the TP of 140.40/138.50.
Resistance
R1-143.30
R2 -144
R3- 145.40
Support
S1-141.75
S2-140.35
S3-138.50


FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro- Major Pair levels and bias summary
GBP/JPY Stuck in Holiday Neutral: Range-Bound at 210 Ahead of Christmas
FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside
FxWirePro: GBP/USD runs out of steam but maintains bullish outlook
FxWirePro: EUR/CAD extends fall, vulnerable to more downside
AUDJPY Bulls in Control: Buy the Dips Above 103.80 for a Run Towards 106
FxWirePro: USD/CAD dips below lower range, bearish bias increases
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR down trend loses steam, remains on bearish path
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/NZD set for bigger drop, but close below key fibo needed
USD/CHF Bears in Control: Dips Below 0.7870 Signal More Downside Ahead 



