FxWirePro:GBP/JPY Trade Idea

• Major resistance- 144.07 (89- 4H EMA)
   
• Major support – 142.15 (Dec 29th 2016 low)
   
• GBP/JPY has made low of 142.49 and jumped sharply  till 144.07 from that level.  It is currently trading around 143.50.
   
• Short term trend is still bearish as long as intraday support 144.07 (89- 4HMA) holds.
   
• Any violation below minor support 143.50 will drag the pair down till 143/142.50/142.15/140 in the short term.
   
• On the higher side, any break above 144.07 will take the pair to next immediate resistance at 145/ 145.40 (Jan 3rd 2017 high)/146.
  
  It is good to sell on rallies around 143.55-143.60 with SL around 144.07 for the TP of 142.51/142.20

Resistance                                                  
R1-144.07

R2-145

R3- 145.40

Support      

S1-143.50

S2-142.50

S3- 142.15