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FxWirePro: GBP/JPY faces strong resistance at 140, good to sell on rallies

Wednesday, July 27, 2016 9:49 AM UTC

Major resistance- 140
The pair has recovered sharply after making a low of 135.96. It is currently trading around 138.06.
Short term trend is slightly bearish as long as resistance 140 holds.
Any indicative break above 140 will take the pair to next level till 141.09/142.30 in the short term.
On the lower side, any break below 137.80 will drag the pair till 137.30/135.96.
Overall bearish invalidation only above 143.25.

It is good to sell on rallies around 139.20 with SL around 140 for the TP of 1437.80/136.

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FxWirePro: GBP/JPY faces strong resistance at 140, good to sell on rallies

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