FxWirePro: GBP/JPY struggles to break below 160, good to buy at dips

• Major resistance -162.60
   
• Major support – 160
   
• The pair has recovered yesterday after making a low of 160.01. It is currently trading around 160.75.
   
• 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 160.75 (55 day EMA) and break above targets 161.75/162.60 level.
   
• Overall trend reversal only above 164.10.

It is good to buy at dips around 160.10-20 with SL around 159.15 for the TP of 160.75/161.75/162.55