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Major resistance - 165.20 (trend line joining 173.75 and 170.60)
- GBP/JPY breaks trend line 165.20 and this confirms minor trend reversal , a jump till 167.70 is possible . It is currently trading around 165.39
- Overall bearish invalidation only above 168.40. On the lower side Minor weakness only below 163.95.
- Any break below 163.95 will drag the pair down till 163/160.
It is good to buy at dips around 165.15 with SL around 163.95 for the TP of 167.60
