FxWirePro
Long

GBP/JPY Short term Outlook

FX:GBPJPY   British Pound / Japanese Yen
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GBP/JPY has broken the Oct 3rd high 182.50 and this confirms further upside movement in the coming days.
Any indicative break of 182.50 would extend gain to 184.37 ( 50% retracement of 251.10 and 117.63).
Minor support is around 181.95 (Tenkan-Sen). On the downside any break below will target 181/180.65.
Short term trend reversal only below 180.65.
Recommendation: Buy GBP/JPY around 182.60, SL 181.95, Target 184.37.
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