GBP/JPY faces major resistance at 164, good to sell on rallies
Major Resistance -164 (Support turned into resistance)
The pair recovered till 163.54 after making a low of 159.81. Intraday tend is weak as long as resistance 164 holds.
On the higher side any break above 164 will take the pair to next level 164.70/165.25.
The pair’s minor support is around 162 and break below targets 161.25/160.
Overall bearish invalidation only above 166.65.
It is good to sell on rallies around 163-163.10 with SL around 164 for the TP of 160
The pair recovered till 163.54 after making a low of 159.81. Intraday tend is weak as long as resistance 164 holds.
On the higher side any break above 164 will take the pair to next level 164.70/165.25.
The pair’s minor support is around 162 and break below targets 161.25/160.
Overall bearish invalidation only above 166.65.
It is good to sell on rallies around 163-163.10 with SL around 164 for the TP of 160