GBP/JPY breaks trend line resistance at 156.85,targets 158.70

FX:GBPJPY   British Pound / Japanese Yen
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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
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