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GBPJPY has formed almost a triple top around 168.60-72 and showed a minor sell. Technically in 15 min chart, the pair is holding below short term (21- and 55 EMA) and 200 MA (167.83). Any break below 167.30 will drag the pair down to 166.69/165.80. GBPJPY hits an intraday low of 167.49 and is currently trading around 167.496.
The near-term resistance is around 168.05, any breach above targets 168.75/ 170/172.
Indicators (15 min chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 167.90-95 with SL around 168.50 for TP of 166.70/166.
