FxWirePro: GBP/JPY downside capped by 38.2% fibo, good to sell on rallies

• Major support – 135.09 (38.2% retracement of 138.83 and 129.06).
   
• Major resistance – 137.10 (10-day MA).
   
• GBP/JPY has broken major support at 135.80 and declined till 135.39 yesterday. It is currently trading around 135.62.
   
• On the lower side, major support is around 135.09 (38.2% retracement of 138.83 and 129.06) and any break below will drag the pair to next immediate support at 133.99/13 in the short term.
   
• Any break above 137.10 will take the pair to next level till 138/138.85. It should close above 138.85 for further bullishness.

It is good to sell on rallies around 136 with SL around 137.10 for the TP of 134