GBP/JPY Technical Analysis comments :
A strong bearish movement occured on the pair GBP/JPY which broke its bullish slant and also the support at 130.87 (level 23.60%). The breakout of 130.87 gave us a sell signal. Currently, the pair is testing the next support at 129.84 (level 38.20%). We maintain to trade only short positions as far as 130.87 is resistance. The breakout of 129.84 will give a new sell signal. The next support is at 129.01 (level 50%).