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GBP/JPY holds well above 100 day EMA, targets 164.10/166

Tuesday, May 31, 2016 6:23 AM UTC

Major support – 162 (55 day H EMA)
Major resistance- 164.10
GBP/JPY has jumped till 163.989 today morning and started to decline from that level .It is currently trading around 163.15.
Intraday trend is bullish as long as support 162.60 holds.
Any break below 162 will take the pair down till 161.50/160.70/160 in short term.
The pair should break above 164.10 for further bullishness. Any break above 164.10 will take the pair till 166.05/167.50.

It is good to buy at dips around 163 with SL around 162 for the TP of 164.10/166.05

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GBP/JPY holds well above 100 day EMA, targets 164.10/166

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