GBP/JPY Short term outlook

FX:GBPJPY   British Pound / Japanese Yen
167 0 2
GBP/JPY             has made a high of 185.01 and declined till 183.53 level. The 183.50 acted as major support any bullish invalidation can happen only below 183.50.

On the downside break below will target 182.50/181.50 in short term.

The pair’s minor resistance is around 184.30 and any break above will extend gains to 185.25/185.76.

Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy GBP/JPY             around 184.10, SL 183.49, Targets 185.25/185.75.
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