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Short

GBP/JPY Short term Outlook

FX:GBPJPY   British Pound/Japanese Yen
48 0 0
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 183.29
Kijun-Sen level: 182.85
Ichimoku cloud top: 182.52
Ichimoku cloud bottom: 178.93
GBP/JPY             has formed temporary top around 184.65 ( trend line resistance joining 18069 and 184.31) and any further bullishness can be seen only above that level. In 4 hours chart GBP/JPY             is trading slightly weak and is trading well below Tenkan-Sen and Kijun-Sen level.
Short term trend is weak as long as minor resistance 182.80 holds.
On the upper side break above 182.80 will target 183.30/183.88.
The pair minor support is at 181.85 and break below would take the pair to 181.

Recommendation: Sell GBP/JPY             around 182.15-20, SL 182.81, Target 181.05.
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