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- Major trend reversal - close above 186.25 (200 day MA)
- GBP/JPY has made a high of 186.35 and started to decline from that level. Overall trend is weak as long as GBP/JPY stays below 186.25.
- On the lower side it has broken major support 185 (50 day MA) and break below confirms minor trend reversal a decline till 183.97/183 is possible.
- The pair's major resistance is around 185.50 and break above targets 185.90/186.30.
It is good to sell on rallies around 185.15-20 with SL around 186.25 for the TP of 183.97/183
R1-185.50
R2-185.80
R3-186.25
Support
S1- 185
S2-183.95
S3-183
