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Short

GBP/JPY Daily Outlook

FX:GBPJPY   British Pound/Japanese Yen
205 0 2
GBP/JPY             has formed Head and shoulder pattern in the hourly chart. The 177.70 is major support (neckline) and any break below will take the pair once again to 175.50.

The minor resistance is around 178.50 (Right shoulder) and break above will target 179.25/179.40.

Recommendation: Sell GBP/JPY             around 178.20, SL 178.51, Targets 177.70/175.60.
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