FxWirePro: GBP/JPY trade idea

• Major support – 137.50 (Mar 29th 2017 low).
   
• Major resistance – 140.10
   
• GBPJPY broken the major support at 137.50 low formed on Mar 29th 2017 and declined till 137.21 level at the time of writing. It is currently trading around 137.27.
   
• Any break below 137.50 confirms further bearishness and decline till 136.45 is possible.
   
• On the higher side , minor resistance is around 137.85 (hourly Tenken-Sen) and any break above targets 138.77 (200- H MA)/138.98 (61.8% retracement of 140.09 and 137.21).
   
• Minor bearish invalidation only above 140.70.
  
  It is good to sell on rallies around 137.35-137.40 with SL around 138 for the TP of 136.45.  

Resistance                                                                   R1-137.85                    

R2 -138.77

R3- 139

Support                   

S1-137.45

S2-136.45

S3-135