GBP/JPY has recovered till 180.99 after making a low of 179.28 (resistance turned into support). Overall trend is on upside and a jump till 183 cannot be ruled out.
On the downside minor support is around 180 and break below will drag the pair further down till 179.25/178.30 (200 day 4HMA).
Indicators (4 Hour chart)
Woddies CCI (14) – Buy
CCI (50) – Buy
Ichimoku- Buy
We prefer to Buy GBP/JPY around 180.10 with stop around 179.25 for the target 181.10/183.