FxWirePro: GBP/JPY faces strong resistance around 162.50, good to sell on rallies

• Candlestick pattern formed- Shooting star
   
• Major resistance - 162.50
   
• GBP/JPY has retreated after making a high of 162.50. It is currently trading around 161.62.
   
• Short term trend is weak as long as resistance 162.50 holds.
   
• On the higher side any break above 162.50 will take the pair to next level till 163/163.95 in short term.
   
• Overall bearish invalidation only above 166.
   
• The minor support is around 161 and break below targets 159.80/159.

It is good to sell on rallies around 161.75-80 with SL around 162.51 for the TP of 159.80/158