GBP/JPY faces resistance around 170.20, break above targets 176

FX:GBPJPY   British Pound / Japanese Yen
264 0 2
Major resistance – 170.20 (Cloud bottom)

The pair has made a high of 170.35 and started to retreat from that level. It is currently trading around 169.77.

The upside in GBP/JPY             has been capped around 170.20-35 ( ichimoku cloud ) and any break above 170.20 will take the pair to next level 172/176 in short term.

On the lower side any minor weakness can be seen only below 168.60 level. Break below 168.60 will drag the pair down till 167.60/166.90.

It is good to buy above 170.20 with SL around 168.60 for the TP of 176.
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