• Major resistance – 137.65 (trend line joining 138.15 and 137.72).
   
• Major support – 136.45.
   
• The pair has shown huge gap down yesterday on account weakness in GBP. GBP/JPY declined till 136.45 and shown a slight recovery from that level. It is currently trading around 137.30.
   
• On the higher side, any break above trend line resistance will take the pair to next level till 138.50 (support turned into resistance)/138.90 (89- H EMA).
   
• The minor support stands at 137 and any break below will drag the pair down till 136.45/135.35 (161.8% retracement of 136.45 and 138.15).
  
  It is good to buy above 137.65 with SL around 137 for the TP of 138.50/138.90