GBP/JPY trades well below 21- day EMA, targets 140

Major intraday resistance – 143.50 (21- day     EMA)

• The pair shown a slight jump after hitting low of 142.77 at the time of writing. GBP/JPY broken the support of 142.77 and declined till 142.55 at the writing.It is currently trading around 142.57.
   
• The intraday trend is weak as long as resistance 143.50 holds.
   
• Any break above 21- day EMA will take the pair to next level till 144.10/144.75 (200- HMA).
   
• On the lower side, major support stands at 142.50 and any violation below will drag the pair down till  140/138.85 (161.8% retracement of 142.50 and 148.45).
  
  It is good to sell on rallies around 142.60-65 with SL around 143.50 for the TP of 140/138.85