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GBP/JPY faces minor trend line resistance at 166.60, break above targets 169/170.60

  • Minor resistance -166.60 (trend line joining 167.18 and 166.91)
     
  • Minor support  - 165.30 (trend line joining 164.79 and 165.27)
     
  • The pair faces strong minor resistance around 166.67 and break above targets 169/170.63.
     
  • Overall bearish invalidation only above 171.
     
  • Any break above 171 will take the pair till 172.50/173.75.
     
  • On the lower side minor support is around 165.30 and break below targets 164.50/164.

It is good to buy only above 166.60 with SL around 165.30 for the TP of 169/170.60

 

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