Trading analysis for 23rd Dec., 2013. GBPJPY in DAILY chart shows bearish trend started. At present the price is below the pivot point. GBPJPY selling from the 1st resistance level i.e., 170.771. Sell on reversal and put a target of take profit at 1st support level i.e., 169.506. If 1st support level breaks then next strong support level is 167.479.
Pivot: 170.267
Resistance levels
R1 170.771
R2 171.532
R3 172.036
R4 172.539
Support levels
S1 169.506
S2 169.002
S3 168.241
S4 167.479