GBP/JPY has broken major resistance 179.28 which confirms short term bullishness a jump till 181 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 179.28 with stop around 178.48 for the target 181.
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 179.28 with stop around 178.48 for the target 181.