• Major resistance – 140.40-140.60 (trend line joining 140.75 and 140.53)
   
• GBP/JPY has shown a massive jump yesterday after hitting low of 138.56 level. It is currently trading around 140.12.
   
• The pair upside will be capped by trend line and horizontal line resistance, it should break above 140.60 for further bullishness.
   
• Any break above 140.60 will take the pair to next level till 141.75/142.36 in the short term.
   
• On the lower side , near term resistance is around 139.60 and any break below will drag the pair till 139.18 (61.8% retracement of 140.20 and 138.56)/138.40.
  
  It is good to sell on rallies around 140.15-140.20 with SL around 140.65 for the TP of 139.60/138.