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GBP/JPY made a high of 187.48 on Aug 28th and has started to decline from that level. Short term trend is still weak as long as resistance 186.50 holds.
- Any break above 186.50 will take the pair to next target around 187.50/187.80.
- Overall Bearish invalidation only above 190.
- On the downside minor support is around 185.35 and break below will drag the pair further down till 184.20/183.30.
It is good to sell on rallies around 185.80-85 with SL around 186.50 for the TP of 185/184.20.
