GBP/JPY Trade idea

• Harmonic Pattern Formed- Bearish Bat pattern
   
• Potential Reversal Zone (PPRZ) – 162.80
   
• GBP/JPY has completed Bearish Bat Pattern at 161.80 and slightly declined from that level. It is currently trading around 160.88.
   
• Short term trend is lightly weak as long as resistance 162.80 holds.
   
• Any break above 162.80 will take the pair to next level till 164.10/165.
   
• On the lower side support is around 160 and nay break below targets 159.20/158.

 It is good to sell on rallies around 161.80 with SL around 162.80 for the TP of 160/159.15

R1-161.80

 R2-162.80

R3-164.10

Support

S1-160

S2-159.15

S3-158