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- Major resistance- 140.05 (trend line joining 142.27 and 141.08).
- Major support – 138.50 (trend line joining 137.76 and 138.42).
- GBP/JPY has slightly recovered after making a low of 138.42 .It is currently trading around 139.41.
- Short term trend is weak as long as resistance 140.05 holds.
- Any break above targets 141.09/142.20 in the short term. The minor support stands at 139.07 and break below will drag the pair down till 138.40/137.75.
It is good to sell on rallies around 139.50-60 with SL around 140.05 for the TP of 138.50/137.75
