FxWirePro: GBP/JPY faces strong resistance at 9-d ay EMA, good to sell on rallies

• Major support – 129.06 (Aug 15th 2016 low).
   
• Major resistance – 133.05 (9- day EMA).
   
• GBP/JPY has pared its gains after making a high of 132.26 yesterday. It is currently trading around 131.53. 
   
• The pair recovered till 133.26 and started to decline from that level. It is currently trading at 132.94.
   
• The pair is facing strong resistance at 9- day EMA and any break above will take the pair to next level till 134.42 (daily Kijun-Sen)/136.46 (55- day EMA).
   
• In the hourly chart, the pair is trading well above Tenkan-Sen (131.98) and 131.98 (Kijun-Sen).
   
• On the lower side, 131.53 (hourly Kijun-Sen) will be acting as minor support and any break below targets 130.50/129.06 (Aug 15th 2016 low)/126.67.

It is good to sell on rallies around 133 with SL around 133.50 for the TP of 131.98/130