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 2nd 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.
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 2nd 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.