GBP/JPY faces strong resistance at 155.50, break above targets 157.15/158

• Major resistance – 155.50 (55 day 4H EMA)
   
• Major support -153.85 (Kijun-Sen)
   
• The pair has made a high of 155.30 at the time of writing and declined from that level. It is currently trading around 154.91.
   
• The upside movement has been capped by 55 day 4H EMA. Any further bullishness can be seen only above 155.50 level.
   
• Any break above 155.50 will take the pair to next level till 156/156.60/158.The pair should break above 162.60 for further trend reversal.
   
• On the lower side major support comes in at 153.85 and any violation will drag the pair till 153.25/152 in short term. The minor support is around 154.65.

It is good to buy above 155.50 with SL around 154.60 for the TP of 157.15/158.