• GBP/JPY is trading weak and has broken major support 144.38 level. GBP declined sharply yesterday after slightly negative comments from BOE Carney and also due to Financial stability report. Bank of England FSR shows that UK is expected to face domestic risk due to Brexit. US trade war jitters support US dollar index. DXY jumped almost 90 pips yesterday.  Cable decliend more than 150 pips in the past two trading session. The pair hits intraday low of 1.30660 and is curretly trading around 1.30750. The pair’s trend is weak as long as resistance 148.11 high made on Jun 7th 2018. GBPJPY recovered till 146.63 and started to decline sharply from that level. Japanese yen was trading weak against all majors on slightly easing trade tensions. GBP/JPY hits intraday low of 144.17 and is currently trading around 144.37.
   
• The pair is facing strong resistance at 145.35 (7 -day MA) and any break above will take the pair till 146.20/146.60. Any close above 148.11 will take the pair to next level till 149/150.
   
• On the lower side, near term support is around 144 and any break below will take the pair to next level till 143.20/140.
  
  It is good to sell on rallies around 144.85-90 with SL around 145.60 for the TP of 143.20/140.