GBP/JPY Short Term Outlook

GBP/JPY has made almost a double top around 185 and is retreating from that level. 183.50 is acting as neckline and any break below will target 182.50 (61.8% retracement of 181.03 and 185.01)/181.60

The pair’s minor resistance is around 185 and any break above will extend gains to 185.97.

Indicators (4 hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell GBP/JPY around 184.20, SL 185.05, Targets 182.51