GBP/JPY(Sell on rallies )

FX:GBPJPY   British Pound / Japanese Yen
164 0 9
Major resistance- 137.40 (hourly Kijun-Sen)

Major support – 135.20 ( trend line joining 139.24 and 135.96)

The pair has made a low of 135.52 at the time of writing and recovered slightly after BOJ disappoints markets by keeping interest rates unchanged at -0.1%.

BOJ has announced further easing measures to boost the economy.

Technically intraday trend is weak as long as resistance 137.40 holds . Any break above 137.40 will take the pair to next level at 138.20/139.25/140. Short term trend reversal only above 140 level.

On the lower side, any break below 135.20 will drag the pair down till 134/133.

It is good to sell on rallies around 136.60-65 with SL around 137.40 for the TP of 135.60/135

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