GBP/JPY breaks trend line resistance at 156.85,targets 158.70
Major resistance – 158.75 (trend line joining 175.01 and 173.55)
Minor resistance -156.85
Minor support -156.20
The pair has slightly recovered after making a low of 156.20. It is currently trading around 156.98
It has broken minor resistance 156.85 which confirms minor trend reversal, a jump till 158.50 is possible.
On the lower side any break below 156.20 will drag the pair down till 155/154.50 level.
Overall bearish invalidation only above 160.
It is good to buy around 156.90-95 with SL around 156.20 for the TP of 158.70
Minor resistance -156.85
Minor support -156.20
The pair has slightly recovered after making a low of 156.20. It is currently trading around 156.98
It has broken minor resistance 156.85 which confirms minor trend reversal, a jump till 158.50 is possible.
On the lower side any break below 156.20 will drag the pair down till 155/154.50 level.
Overall bearish invalidation only above 160.
It is good to buy around 156.90-95 with SL around 156.20 for the TP of 158.70
