FxWirePro: GBP/JPY upside capped by 7-W EMA, good to sell on rallies

• Major resistance- 134.43 (7- W EMA).
   
• Major support – 132.65 (3 W EMA).
   
• The pair jumped till 7 W EMA and declined from that level. It is currently trading around 133.59.
   
• Minor trend is weak as long as resistance 134.45 holds. Any break above 134.45 will take the pair to next level till 135.80 (9-W EMA). It should close above 9-W EMA for further bullishness.
   
• On the lower side, support stands at 132.65 (3- W EMA) any violation below will drag the pair till 131.13 (Previous week low)/130.The minor support is around 133.30.

It is good to sell on rallies around 133.60-65 with SL around 134.45 for the TP of 132.65/131.13