Major support – 137.50 (55- H ).
The pair has taken support near 55- H and jumped from the level. It is currently trading around 138.03.
GBP/JPY breaks minor resistance around 137.95 and jumped till 138.17 at the time of writing.
On the higher side, major resistance is around 138.85 and any break above targets 140/142.40. Any break below 55- H will drag the pair to next immediate level till 137.08 (90- HEMA)/136.25 (9 –W ).
Short term weakness only below 136.25 level.
It is good to buy on dips around 138 with SL around 137.50 for the TP of 138.85/140.