GBP/JPY Short term Outlook

FX:GBPJPY   British Pound / Japanese Yen
240 0 1
GBP/JPY             has broken major support 177.85 (200 day 4HMA) and decline till 175.80 cannot be ruled out.

On the upside minor resistance is around 178.60 and any break above could pave way for next target at 179.25/180.

Indicators ( Daily chart )

CCI (50) – Sell

CCI (14) – Sell


Recommendation: Sell GBP/JPY             around 177.60-65, SL 178.60, Target 175.80.

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