FxWirePro: GBP/JPY faces strong resistance at 162.70, good to buy at dips

• Major resistance -162.70
   
• Major support – 160
   
• The pair has retreated yesterday after making a high of 162.70. It is currently trading around 161.93.
   
• Short term trend is still bullish as long as support 160 holds.
   
• On the lower side minor support is around 160 and any break below that level will drag the pair down till 159.15/158.49/158.
   
• The pair’s resistance is around 162.70 and break above targets 164.05 level.
   
• Overall trend reversal only above 164.10.

It is good to buy at dips around 161.20-30 with SL around 160 for the TP of 162.70/164.10