- Major intraday resistance- 143.55-143.65 (23.6% retracement and 89 EMA).
- The pair is declining phase and has broken major support of 144 low made on Jul 21st 2017. GBP/JPY declined till 142.46. It is currently trading around 143.
- On the lower side, near term support is around 142.45 and any break below will drag the pair down till 141.78 (trend line joining 135.95 and 138.67)/141.60 (200- day MA)/139.84.
- The near term resistance is around 143.65 and any break above will take the pair till 144/144.40 (55- day EMA)/145.Minor bullishness can be seen only above 145 level.
It is good to sell on rallies around 143.35-40 with SL around 144 for the TP of 141.90/140.