GBPJPY halted its four weeks of uptrend on a minor pullback in the yen. Technically in 15 min chart the pair is holding below short term (21- and 55 EMA) and slightly above 200 MA (167.27). Any close below that level will drag the pair down to 166.75/165.80. GBPJPY hits an intraday low of 167.427and is currently trading around 167.440.
The near-term resistance is around 168.75, any breach above targets 170/172.
Indicators (15 min chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 167.68-70 with SL around 168 for TP of 167.27/166.70
