GBP/JPY: Sell below 136.60

FX:GBPJPY   British Pound / Japanese Yen
172 0 10
Major support – 136.60 (21 day MA)

GBP/JPY             has slightly recovered after making a low of 136.69. It is currently trading around 136.95.

On the lower side, any break below 136.60 will drag the pair down till 135.80/134.10 ( 61.8% retracement of 128.60 and 143.23).

The minor resistance is around 137.90 (hourly Tenken-Sen) and break above targets 138.40/139.16/139.83 (200 HMA ).

Overall bearish invalidation only above 143.23.

It is good to sell below 136.60 with SL around 137.25 for the TP of 135.80/134.20
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