GBP/JPY Trade idea

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

R1-174.30

 R2-175

R3-176.30

Support

S1-170.50

S2-169.90

S3- 169