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FxWirePro:GBP/JPY trades well below major support 141.50, dip till 140 likely

GBPJPY has halted its minor jump around 143.33 and shown a more than 120 pips sell-off yesterday on weak GBP. GBP was trading lower against all majors on Brexit uncertainty and GBPUSD has lost more than 100 pips yesterday. GBPJPY hits low of 140.95 and is currently trading around 141.12.

 

The pair has broken major support 141.50 (23.6% fib) and this confirms minor weakness and a dip till 140 is possible.

 

The near term major resistance is around 142.30 and any break above targets 142.65/143. The pair should break above 143.35 for further bullishness.

 

It is good to sell on rallies around 141.65-70 with SL around 142.30 for the TP of 140.

 

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