- GBP/JPY has retreated till 179.28 (resistance turned into support) and recovered from that level. Intraday bias is on upside and a jump till 183 cannot be ruled out.
- On the downside major support is around 179.28 and break below will drag the pair further down till 178.40 (200 day 4HMA)/177.40.
Indicators (4 Hour chart)
Woddies CCI (14) – Buy
CCI (50) – Buy
We prefer to Buy GBP/JPY around 179.50 with stop around 178.40 for the target 181.10/183.
The material has been provided by InstaForex Company – www.instaforex.com