GBP/JPY faces resistance at 161.65,break above targets 163/163.8
Minor resistance – 161.65 (trend line joining 163.96 and 162.09)
Major support – 160
The pair has recovered after making a low of 160.35. It is currently trading around 161.34.
On the higher side minor resistance is around 161.65 and break above targets 163/163.95.
The major support is around 160 and break below will drag the pair down till 158.70/155.90.
Short term bearish invalidation only above 164.
It is good to buy above 161.65 with SL around 161 for the TP of 163/163.80
Major support – 160
The pair has recovered after making a low of 160.35. It is currently trading around 161.34.
On the higher side minor resistance is around 161.65 and break above targets 163/163.95.
The major support is around 160 and break below will drag the pair down till 158.70/155.90.
Short term bearish invalidation only above 164.
It is good to buy above 161.65 with SL around 161 for the TP of 163/163.80