GBP/JPY faces resistance around 167.85, break above targets 172
Major resistance – 167.85 (Tenken-Sen)
Major intraday Support -166.80 (5 day MA)
GBP/JPY has broken minor trend line resistance around 167 and is currently trading around 167.70.
It is facing resistance around 167.85 and any break above confirms major trend reversal, a jump till 169.10/170.50/172 is possible .
On the lower side major intraday support is around 166.80 and break below targets 166/164.
Overall trend reversal can happen if it closes above 172 level.
It is good to buy at dips around 167.65-70 with SL around 166.80 for the TP of 169.10/170.50/172
Major intraday Support -166.80 (5 day MA)
GBP/JPY has broken minor trend line resistance around 167 and is currently trading around 167.70.
It is facing resistance around 167.85 and any break above confirms major trend reversal, a jump till 169.10/170.50/172 is possible .
On the lower side major intraday support is around 166.80 and break below targets 166/164.
Overall trend reversal can happen if it closes above 172 level.
It is good to buy at dips around 167.65-70 with SL around 166.80 for the TP of 169.10/170.50/172
