- Major support -138.65 (Jun12th low).
- The pair has formed a temporary bottom at 139.31 and recovered slightly from that level.GBPJPY jumped till 141.41 and is currently trading around 140.60.
- Short term trend is still weak as long as resistance143.20 high made on Aug15th 2017 holds.
- The near term resistance is around 142.10 (21- day EMA) and any break above will take the pair till 142.30 (200- day MA)/143.20/144.Overall bearish invalidation only above 147.77.
- On the lower side, 138.65 will be acting as major support and any break below will drag the pair till 135.59 (Apr 17th 2017 low).
It is good to sell on rallies around 141-141.10 with SL around 142.15 for the TP of 139.31/.138.67
