GBPJPY has recovered slightly till 178.18 (200 day HMA) after making a low of 176.47. Short term trend is still bearish as long as resistance 178.25 holds.
On the downside 177 is acting as short term support and any break below will drag the pair further down till 176.45/175.75.
The pair's short term resistance is around 178.25 and any indicative break above would extend gains till 178.70/179.25.
Indicators (TF H1)
CCI (50) - Buy
CCI (14) - Sell
RSI (14)-Sell
Recommendation: Sell GBPJPY around 177.65 SL 178.25, Targets 176.50/175.85.
On the downside 177 is acting as short term support and any break below will drag the pair further down till 176.45/175.75.
The pair's short term resistance is around 178.25 and any indicative break above would extend gains till 178.70/179.25.
Indicators (TF H1)
CCI (50) - Buy
CCI (14) - Sell
RSI (14)-Sell
Recommendation: Sell GBPJPY around 177.65 SL 178.25, Targets 176.50/175.85.
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