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GBPJPY Weakens Amid Yen Strength: Sell on Rallies Recommended 
- RES 4: 122
- RES 3: 121.75 (28th Aug high)
- RES 2:121
- RES 1: 120.75 (61.8% retracement of 121.75 and 119.21)
PRICE: 120.31 @11:28 GMT
- SUP 1 : 120.25 (7 day H EMA)
- SUP 2: 120 (200 DA HMA)
- SUP 3: 119.50 (38.2% retracement of 116.07 and 121.72)
- SUP 4: 118.80 (Aug 9th low)
USD/JPY has broken minor trend line support around 120.50 (trend line joining 119.96 and 120.35) and a short decline till 119.95 is possible.
On the higher side intraday resistance is around 120.75 and break above will take the pair till 121.30.
Short term trend reversal only above 121.30.
The pair's minor support is around 120.20 and break below targets 119.95/119.50.
It is good to sell on rallies around 120.40-45 with SL around 120.76 for the TP of 119.95/119.60
