• Chart pattern- Symmetrical triangle pattern
   
• Major resistance – 142.05 (trend line joining 144.78 and 142.80)
   
• Major support – 139.40 (200- day MA)
   
• GBP/JPY has declined once again after jumping till 142.05 yesterday. Short term bullishness can be seen only above 142.05.
   
• The pair is facing strong trend line resistance at 142.05 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
   
• On the lower side, any break below 141 (55- day EMA) will drag the pair till 140/139.35 (200- day MA)/ 138.50 (Feb 7th 2017 low)/136.45 (Jan 16th 2017 low).
  
  It is good to sell on rallies around 141-14.10 with SL around 142.05 for the TP of 140/139.40.