FxWirePro: GBP/JPY faces strong resistance at 132, good to sell on rallies

• Major resistance -132 (55 H EMA)
   
• The pair has retreated sharply after making a high of 131.32 at the time of writing. It is currently trading around 130.72.
   
• GBP/JPY have declined till 128.60 yesterday and closed slightly above 130
   
• The intraday trend is weak as long as resistance 132 holds.
   
• Any indicative break above 132 will take the pair to next level at 132.70/133.90/135.32 (200 HMA).
   
• On the lower side, support is around 130.30 and break below targets 129.80/128.60.

Indicators :

CCI(50)- sell

ADX- Neutral

It is good to sell on rallies around 131.10-131.20 with SL around 132 for the TP of 129.85/128.65