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GBPJPY continues tor trade lower after forming a minor top around 144.60. The overall trend is still on the downside as long as resistance 144.60 holds. The decline from 156.60 will get completed at 126.95 only if the pair breaks 147.95. The pair hits low of 141.47 and is currently trading around 142.
On the flip side, near-term support is around 140.80 and any violation below will drag the pair down till 139.28/138.87.
The resistance to being watched at 142.74 high made in this week, an indicative break above targets 143.03/143.40.
It is good to sell on rallies around 142.45-50 with SL around 143 for the TP of 140.85.
