GBP/JPY faces resistance at 168.85, break above targets 170.50
Major resistance – 168.85 (trend line joining 173.38 and 171.27)
The pair has made a high of 168.85 at the time of writing and slightly retreated from that level. It is currently trading around 168.50.
Short term trend is slightly bullish as long as support 166.90 holds.
Any break below 166.90 will drag the pair till 166.20/165.The minor support is around 167.80.
On the higher side any break above 168.85 will take the pair till 169.30/170/170.50.
It is good to buy above 168.85 with SL around 167.80 for the TP of 170.50
The pair has made a high of 168.85 at the time of writing and slightly retreated from that level. It is currently trading around 168.50.
Short term trend is slightly bullish as long as support 166.90 holds.
Any break below 166.90 will drag the pair till 166.20/165.The minor support is around 167.80.
On the higher side any break above 168.85 will take the pair till 169.30/170/170.50.
It is good to buy above 168.85 with SL around 167.80 for the TP of 170.50