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Long

GBP/JPY faces strong resistance at 170.35,break above target 175

FX:GBPJPY   British Pound/Japanese Yen
339 0 4
Major resistance -170.35 (Jan 22nd 2016)

The pair has once again recovered after making a low of 166.97. It is currently trading around 169.27.

GBP/JPY             reached 170 today morning and started to decline from that level. Any break above major resistance will take the pair to next level 172/175.

On the downside minor support is around 168.80 and break below targets 167/164.50.

It is good to buy above 170.30 with SL around 168.80 for the TP of 172/175
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