Major support - 136.50
GBPJPY has formed almost a triple bottom near 136.50 and is consolidating around that level. The pair has formed major top around 148.87 and declined more than 1200 pips. The decline was mainly due to broad based weakness of Pound sterling against all majors especially with USD on Brexit uncertainty.
The pound sterling is trading weak for past 3 months and lost more than 800 pips and any break below 1.2550 low made on May month confirms bearish continuation and a decline till 1.23730 likely.
On the flip side, any violation below 136.50 confirms major trend reversal and a dip till 135.59/135/132.55.
The major resistance is around 137.15 and any convincing break above will take the pair to next level till 137.78/138.40. Minor trend reversal only above 138.40.
It is good to sell below 136.50 with SL around 137.15 for the TP of 135/132.55.


Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/USD rises as soft US data pressures dollar
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth 



