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- Major resistance - 138.85
- Major support - 137.30 (55- H EMA).
- GBP/JPY has formed temporary top around 138.85 and declined from that level. It is currently trading around 137.69. Short term trend is slightly weak as long as resistance 138.85 holds.
- On the lower side support stands at 137.30 and nay violation below targets 136.65/136 in the short term.The pair is trading below hourly Tenken-Sen (137.95) and hourly Kijun-Sen (137.92). So slight dips till 136 is possible .
- Any break above temporary top targets 140/142.40.
It is good sell on rallies around 137.65-137.70 with SL around 138.85 for the TP of 136
