FxWirePro: GBP/JPY Trade idea

• GBP/JPY continues its losing streak after hitting high of 143.95 on Jun 2nd 2017.  The pair broken temporary bottom around 141.48 on May 31st 2017. It is currently trading around 141.13.
   
• In the hourly chart the pair is trading well below Tenkan-Sen and Kijun-Sen and min or bullishness can be seen only above 142.28 (hourly Kijun-Sen). On the lower side, any break below temporary low confirms minor weakness, a decline till 140.37 (61.8% of 135.75 and 148.11)/138.50.
   
• The near term resistance is around 142.28 and any break above will take the pair till 143/143.95.

It is good to sell on rallies around 141.25-141.30 with SL around 142.05 for the TP of 140.37/139.

Resistance
                   

R1-142.28
                               

R2 -143
 

R3- 143.95
 

Support   
 

S1-141.45
 

S2-140.37

 

S3-138.50