Major support - 135.35
GBPJPY is trading lower for the past 2 trading days and declined more than 250 pips from a high of 147.77. The decline was due to a slight jump in Safe-haven assets like yen and Gold on global growth concern and geopolitical tension. The pair hits 2-week low at 135.18 and is currently trading around 135.25.
On the higher side, near term resistance is around 135.80 and any violation above will take the pair till 136.34/136.74 (300- H EMA).Major bullishness only above 137.77.
The near term support is around 135 and any indicative break below 133.90 (61.8% fib)/133.
It is good to sell on rallies around 135.45-50 with SL around 136.35 for the TP of 133.90.
