GBP/JPY Short Term outlook

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.