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- Major intraday resistance- 133.89 (hourly Kijun-Sen).
- The pair declined below major support 133 handle till 132.55 yesterday. It is currently trading around 132.73.
- The Intraday trend is weak as long as resistance 133.89 holds. The pair is declining continuously for sixth straight session from the high of 140. GBP/JPY has weakened further after BOE cuts interest rates by 25bpbs and adds further stimulus package for the growth of the economy.
- On the higher side resistance is at 133.89 and any break above targets 134.20/135.25 in the short term.
- The low made post-BOE yesterday 132.55 will be acting as major support and a breakdown below targets 131.60/130.
It is good to sell on rallies around 132.80-85 with SL around 133.90 for the TP of 131.60/130.05
