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Short

GBP/JPY faces strong resistance at 162.85, good to sell on ralli

FX:GBPJPY   British Pound / Japanese Yen
233 1 9
Major resistance- 162.85 (100 day EMA )

Major support- 160.70 (21 day 4H MA)

The pair has facing a major resistance around 162.85 and struggling to break above that level. On Wednesday the pair has made a high of 162.52 and started to decline from that level.

It is currently trading around 160.75. On the lower side any break below 160.70 confirms minor weakness , a decline till 160/159.20 is possible.

The major intraday resistance is around 161.50 and break above targets 162.20/162.82/162.85.

It is good to sell on rallies 160.85-160.90 with SL around 161.50 for the TP of 160/159.20
what is recommended from current level. please advise
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