GBP/JPY Trade Idea

• Major resistance -170.35 (Jan 22nd 2016)
   
• The pair has once again recovered after making a low of 166.97. It is currently trading around 169.27.
   
•  GBP/JPY reached 170 today morning and started to decline from that level. Any break above major resistance will take the pair to next level 172/175.
   
• On the downside minor support is around 168.80 and break below targets 167/164.50.

 

It is good to buy above 170.30 with SL around 168.80 for the TP of 172/175

R1-170.35

 R2-172

R3-175

Support

S1-168.80

S2-167

S3- 164.50