FXWIREPRO: GBP/JPY Breaks Minor Trend Line Resistance, Good to Buy at Dips

FXWIREPRO: GBP/JPY Breaks Minor Trend Line Resistance, Good to Buy at Dips

• Major resistance- 160.30 (trend line joining 175.01 and 164.09) 
• Major support- 159         
• The pair has broken major resistance 160.30 and jumped till 160.63 at the time of writing. It is currently trading at 160.62. 
• Short term trend is slightly bullish as long as support 159 holds. 
• On the higher side any break above 160.30 will take the pair to next level till 161.50/162.55 in short term. 
• The pair’s minor support is around 160 and break below targets 159/158.40. 
• Intraday bullish invalidation only below 158.40.
  

It is good to buy at dips around 160.10 with SL around 159 for the TP of 161.50/162.51.

The material has been provided by InstaForex Company - www.instaforex.com