On the downside 176.50 is acting as short term support and any break below will drag the pair further down till 175.80/175.
The pair’s short term resistance is around 177 and any indicative break above would extend gains till 177.70/178.
Indicators (1 Hour chart)
(50) - Sell
(14) - Sell
Recommendation: Sell GBP/JPY around 176.60, SL 177.10, Targets 175.80/175.85.