GBP/JPY Buy above break out

FX:GBPJPY   British Pound / Japanese Yen
326 0 6
Major resistance- 156 ( Trend line joining 156.66 and 156.15)

Major support – 155.25 (4 Hour Tenken-Sen)

The pair has made a high of 155.95 and slightly declined from that level. It is currently trading around 155.82.

On the higher side any break above 156 will take the pair till 157.25/157.89 (200 4 HMA ).

The pair should close above 158.50 (4 Hour Kijun-Sen) for further upside till 160/162.50 in short term.

Any violation below 155.25 will drag the pair down till 154.80/154.40.It should break below 154.40 (yesterday low) for decline till 152.50/151.65.

It is good buy above 156 with SL around 155.25 for the TP of 157.25/157.89.
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