- GBP/JPY has broken major resistance 179.28 which confirms that fall from 184.99 has completed at 174.86. Intraday bias is on upside and a jump till 183 cannot be ruled out .
- On the downside major support is around 178.50 (200 day 4HMA) and break below will drag the pair further down till 178/177.40.
Indicators (4 Hour chart)
Woddies CCI (14) – Buy
CCI (50) – Buy
Ichimoku- Buy
We prefer to Buy GBP/JPY around 179.60 with stop around 178.48 for the target 181.10/183.
The material has been provided by InstaForex Company – www.instaforex.com