• Chart pattern- Symmetrical triangle pattern
   
• Major resistance – 141.80 (trend line joining 144.78 and 142.80)
   
• Major support – 140.10 (trend line joining 136.45 and 138.53)
   
• GBP/JPY has recovered sharply after declining till 140.47 yesterday. Any hourly close 141.80 confirms triangle break out.  
   
• The pair is facing strong trend line resistance at 141.80 and any close above targets 144.13 high made on Feb 1st 2017/144.78 (Jan 27th 2017 high).
   
• On the lower side, any break below 140.10 (trend line joining 136.45 and 138.53) will drag the pair till 139.17 (200- day MA)/ 138.50 (Feb 7th 2017 low)/136.45 (Jan 16th 2017 low).
  
  It is good to buy above 141.80 with SL around 141 for the TP of 144/144.75.