GBP/JPY breaks major support 158, decline till 156/154.55 is possible

• Major support - 158
   
• Major resistance -159.55 (7 day EMA)
   
• The pair has declined after making a high of 159.58. It is currently trading around 157.78.
   
• GBP/JPY has broken major support 158 and declined till 157.72 at the time of writing. It is currently trading around 157.83.
   
• Overall trend is bearish price trades well below Tenken-Sen, Kijun-Sen and well below Cloud.
   
• Short term trend reversal only above 160.20 (Kijun-Sen).Any break above 160.20 will take the pair to next level  160.75 (7 W EMA)/161.50.

It is good to sell on rallies  around 158-158.10 with SL around 159.55 for the TP of  156.50/154.60