GBP/JPY Daily Outlook

FX:GBPJPY   British Pound / Japanese Yen
151 0 2
GBP/JPY             has formed triple bottom around 176.50 in one hour chart. This confirms intraday bullishness and jump till 178.50 cannot be ruled out.

On the downside 177 is acting as short term support and any break below will drag the pair further down till 176.45/175.75

The pair's short term resistance is around 177.60 and any indicative break above would extend gains till 178/178.50.

Indicators (1 Hour chart)

CCI (50) - Sell

CCI (14) - Buy

CCI (14)-Neutral

Recommendation: Buy GBP/JPY             around 177 SL 176.45, Targets 178.45.

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