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Short

GBP/JPY faces strong resistance at 187.70,sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
284 0 11
Potential Reversal Zone (PRZ) - 187.70.

GBP/JPY             has made a high of 187.60 and has started to decline from that level. It is trading around 187.25 level.

Any break above 187.70 will take the pair till 188.25/189. On the lower side minor support is around 187.10 and break below will drag the pair furtehr down till 186.70/186.20185.70.

Short term weakness only below 184.30 level.

It is good to sell on rallies around 187.35-40 with SL around 187.80 for the TP of 186.20/185.70
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