• Major support -138.85
   
• Major intraday resistance- 140.30 (100- day EMA).
   
• GBPJPY has broken the low made on Feb 28th 2017 yesterday and declined till 138.72. It is currently trading around 138.73.
   
• The pair should close above trend line resistance of 140.60 for further bullishness. Any break above 140.75 will take the pair till 141.25/141.77 (Feb 24th 2017 high)/142.05 in the short term. Major intraday resistance is around 140.30.
   
• On the lower side, any break below 138.85 will take the pair to next level till 138/136.45.
  
  It is good to sell on rallies around 139.35-139.40 with SL around 140.30 for the TP of 138.50/136.50.