Gbp/jpy Breaks Major Resistance 185, Jump Till 187.20

• GBP/JPY has broken major resistance 185 and this confirms short term bullishness, jump till 189 cannot be ruled out.
• On the downside minor support is around 184.40 and any break below will drag the pair further down till 183.78/183.30.
• The pair’s major resistance is around 186.05 and any break above will target 186.62 (161.8% retracement 184.45 and 180.93)/187.25 (Jan 2^nd 2015).

Indicator (4 Hours chart)

CCI (50) – Buy

 CCI (14) – Buy

Ichimoku- Buy

We prefer to buy 185.50 with stop around 184.45 for the target of 186.60/187.25.

The material has been provided by InstaForex Company – www.instaforex.com