GBP/JPY faces resistance at 155.50, break above targets 157.15

FX:GBPJPY   British Pound / Japanese Yen
201 0 2
Major resistance – 155.50 (55 day 4H EMA )

Major support -153.85 (Kijun-Sen)

The pair has made a high of 155.30 at the time of writing and declined from that level. It is currently trading around 154.91.

The upside movement has been capped by 55 day 4H EMA . Any further bullishness can be seen only above 155.50 level.

Any break above 155.50 will take the pair to next level till 156/156.60/158.The pair should break above 162.60 for further trend reversal.

On the lower side major support comes in at 153.85 and any violation will drag the pair till 153.25/152 in short term. The minor support is around 154.65.

I t is good to buy above 155.50 with SL around 154.60 for the TP of 157.15/158
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