GBP/JPY Trade idea

• Major resistance - 138.85
   
• Major support - 137.30 (55- H EMA).
   
• GBP/JPY has once gain retreated after jumping till 138.46 at the time of writing.It is currently trading around 137.65. 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 137.45-137.50 with SL around 138 for the TP of 136.

Resistance 

R1- 138.85

R2-140

R3-142.40

Support

S1-137.30

S2-136

S3-135