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Short

GBP/JPY faces resistance at 183.80, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
206 1 6
GBP/JPY             jumped till 183.72 and started to retreat from that level.. It is currently trading around 183.03.

The major intraday resistance is around 183.80 ( trend line joining 186.34 and 185.05) and any break above will take the pair till 184.25/184.60 level.

Short term bearish invalidation only above 185.40.

On the lower side minor support is around 182.50 and break below will drag the pair till 182/180 in short term.

It is good to sell on rallies around 183.20-25 with SL around 183.80 for the TP of 182/180.40

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