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Short

GBP/JPY SHORT TERM OUTLOOK

FX:GBPJPY   British Pound/Japanese Yen
125 0 0
GBP/JPY             is facing major resistance around 179.40 (200 day 4H EMA ) and short term bullishness can be seen only above that level.

On the downside 178.48 (Kijun-Sen) is acting as short term support and any break below will drag the pair further down till 177.82/177.

The pair's short term resistance is around 179.40 and any indicative break above would extend gains till 180.36/181.

Indicators (4 Hour chart)

CCI (50) - Buy

CCI (14) - Sell

Ichimoku- Sell
Recommendation: Sell GBP/JPY             around 178.70, SL 179.51, Targets 177.10.

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