Major resistance -159.05 (55 day )
GBP/JPY has declined after making a high of 158.98. It is currently trading around 157.59.
Minor weakness can be seen only below 156.80. Any indicative break below 156.80 will drag the pair down till 156/155.50/154.40.
Short term invalidation only below 153.50.
On the higher side any break above minor resistance 159.05 (55 day ) will take the pair to next level till 160.35/161.70/162.70.
It is good sell on rallies around 157.85-90 with SL around 159.05 for the TP of 156/155.50/154.40.