Current price: 163.90
Key point: 162.35
Our preferred direction: buying positions above 162.35 levels, targeting 164.00 as a first target, then 166.00 as a second target.
Alternative scenario: stop loss and change direction by breaking 162.35, targeting 161.50.
The Pound JPY pair breached the triangle formed on the daily time frame, and the support levels 161.52-162.35, and it is expected to continue its rise towards the resistance levels 166.00