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- GBP/JPY has made a high of 174.17 on Friday and started to decline from that level is currently trading around 172.99.
- Short term trend is still bullish as long as support 170.50 (Kijun-Sen) holds. Any break below Kijun-Sen will drag the pair down till 169.95/169.
- On the higher side major resistance is around 174.30 (200 day 4HMA) and any break above will take the pair to next level till 175/176.27.
It is good to buy at dips around 172-172.25 with SL around 170.50 for the TP of 175/176.25
