GBP/JPY faces resistance around 173.75, good to sell on rallies

FX:GBPJPY   British Pound / Japanese Yen
250 2 4
Major support – 171.90 (Kijun-Sen)

The pair has taken support near trend line at 171.95 ( trend line joining 164.69 and 166.97) and slightly recovered from that level.

On the downside major support is around 171.90 and any break below targets 171.50/170.97/170.50.

The pair’s major resistance is around 173.75 (200 day 4 HMA ) and any break above will take the pair till 174.50/175.

It should close above 175 for further bullishness.

Stochostic RSI –Oversold (Slight jump is possible)

It is good to sell on rallies around 172.60-70 with SL around 173.75 for the TP of 171.50/170.55.
I'm going to buy at this level. May be you will be the one who will sell me some gbpjpy's))
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