• Harmonic pattern formed – Bullish Shark pattern
   
• Potential reversal Zone (PRZ)- 138.40.
   
• GBP/JPY shown a huge decline after jumping till 140.59. The pair has broken the low of 139.15 made on Mar 14th 2017 and declined till 138.86. It is currently trading around 138.94.
   
• GBP/JPY forms Potential Bullish Shark pattern and any further weakness can be seen only below 138.40.
   
• Any break below 138.40 will drag the pair till 136.45/136.
• On the higher side, any break above 140.60 confirms minor trend reversal and any break above targets 141.78/142.36.
   
• The declined from 195.83 till 124.78 will come to an end only if it breaks above 148.50.
  
  It is good to buy on dips around 139 with SL around 138.40 for the TP of 140.50