FxWirePro
Long

GBP/JPY faces resistance at 161.65,break above targets 163/163.8

FX:GBPJPY   British Pound/Japanese Yen
184 0 3
Minor resistance – 161.65 (trend line joining 163.96 and 162.09)

Major support – 160

The pair has recovered after making a low of 160.35. It is currently trading around 161.34.

On the higher side minor resistance is around 161.65 and break above targets 163/163.95.

The major support is around 160 and break below will drag the pair down till 158.70/155.90.

Short term bearish invalidation only above 164.

It is good to buy above 161.65 with SL around 161 for the TP of 163/163.80
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