GBPJPY Intra day trade idea (final update)

Chart pattern- Triple top around 192.

GBPJPY  pared most of its gains made during the Asian session. It hit a high of 191.92 and is currently trading around 191.15.

Technicals-

The pair is trading above 34- and 55 EMA in the hourly chart.

The near-term resistance is around 191.20, a breach above targets 191.50/192. Major trend continuation only above 192.05. The immediate support is at 190.85 (34- H EMA), any violation below will drag the pair to 190.75 /190.50/190/189.48/188.90.

The pair should close below  190.75-85 for further weakness.

Indicator (hourly chart)

CCI (14)- Bearish

CCI (50)- Bullish (below 100)

Average directional movement Index - Neutral. All indicators confirm the mixed trend.

It is good to sell below 190.75 with SL around 191.20 for a TP of 189.51.