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GBP/JPY Short term outlook

FX:GBPJPY   British Pound/Japanese Yen
126 0 0
GBP/JPY             is retreating after making a high of 176.60.It has broken short term support 176.12 (200 day 15 min MA) and it confirms short term weakness decline till 174.85 cannot be ruled out.

On the upside minor resistance is around 176.70 and any break above will target 177.25/178.

Indicators (15 min chart)

Woodies CCI (14) - Sell

CCI (50) - Sell

We prefer to Sell GBP/JPY             around 176.20, SL 176.70, Targets 175.35/174.85.

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