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- Candlestick pattern formed- Shooting star
- Major resistance - 162.50
- GBP/JPY has retreated after making a high of 162.50. It is currently trading around 161.62.
- Short term trend is weak as long as resistance 162.50 holds.
- On the higher side any break above 162.50 will take the pair to next level till 163/163.95 in short term.
- Overall bearish invalidation only above 166.
- The minor support is around 161 and break below targets 159.80/159.
It is good to sell on rallies around 161.75-80 with SL around 162.51 for the TP of 159.80/158
