• Major support – 139.05 (200- day MA)
   
• GBPJPY has declined sharply after showing minor jump near trend line. The pair has made a high of 141.76 on Friday and shown sharp selling till 200- day MA.
   
• GBP/JPY major support is at 139.05 and any close below 200 –day MA will drag the pair till 138.50 (7th Feb 2017 low/136.45 (Jan 16th low).
   
• On the higher side, near term resistance is around 139.75 (23.6% retracement of 142.05 and 139.01) and any violation above will take the pair till 140.35 (100- day EMA)/141.03 (55- day EMA).
  
  It is good to sell on rallies around 139.45-139.50 with SL around 140.35 for the TP of  138.50/136.55