• Major support -138.85
   
• Major resistance- 140.45 (trend lien joining 141.77 and 140.75)
   
• GBPJPY  has once again declined after hitting trend line resistance at 140.50. It is currently trading around 139.37.
   
• The pair should close above trend line resistance of 140.50 for further bullishness. Any break above 140.50 will take the pair till 141.25/141.77 (Feb 24th 2017 high)/142.05 in the short term.
   
• On the lower side, any break below 138.85 will take the pair to next level till 138/136.45.
  
  It is good to sell on rallies around 139.60-139.70 with SL around 140.50 for the TP of  138.50/136.50.