The GBPJPY (Geppy) could be on its way from breaking out from the symmetrical triangle in the 3-hour chart (indicated by the red circle). Once the price breaks above the resistance at 136.00, the currency pair could head all the way up to the 138.00 territory which could be the next resistance (green line). However, if the selling pressure dominates the 136.00 level, the Geppy can go back to its immediate support (brown line) at the 134.50. If 134.50 still couldn’t hold on to the value of the British Pounds against the Yen, the retreat could be at the next support (purple line)
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