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Short

GBP/JPY faces major resistance at 164, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
272 0 7
Major Resistance -164 (Support turned into resistance)

The pair recovered till 163.54 after making a low of 159.81. Intraday tend is weak as long as resistance 164 holds.

On the higher side any break above 164 will take the pair to next level 164.70/165.25.

The pair’s minor support is around 162 and break below targets 161.25/160.

Overall bearish invalidation only above 166.65.

It is good to sell on rallies around 163-163.10 with SL around 164 for the TP of 160
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