GBP/JPY Faces Major Resistance at 158, Break Above Targets 160/162.50 Is Possible

GBP/JPY Faces Major Resistance at 158, Break Above Targets 160/162.50 Is Possible

• Major resistance- 158
• Major support -155.75 (Resistance turned into support) 
• The pair has broken minor resistance 157.20 and jumped till 157.87. It is currently trading around 157.45. 
• Intraday trend is slightly bullish as long as support 156.15 holds. 
• Any break below 156.19 will drag the pair till 155.75/155 in short term. 
• On the higher side resistance is around 158 and any break above targets 158.60/160/162.50 in short term.
  

It is good to buy above 158 with SL around 157 for the TP of 159.58/162.50

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