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- Major resistance -158.5
- Major support -157.20
- GBP/JPY has made a high of 158.54 on Friday and started to retreat from that level. It is currently trading around 157.11. Short term trend is still bearish as long as resistance 158.50 holds.
- On the higher side any break above 158.50 will take the pair to next level till 159.25/160.
- Any break below major support will drag the pair till 155/154.70.
It is good to sell on rallies around 157.25-30 with SL around 158.50 for the TP of 155/154.70
R1-158.50
R2-159.25
R3-160
Support
S1-157.20
S2- 155
S3-154.70
