J2Z, K4X, 17V,?, H16R, M22P which one of the following can replace the question mark?

J2Z, K4X, 17V, ___, H16R, M22P
Here first letter contain 2 letters and one numeric value.
1^st term of each letter : J K I __ H M
Here j to k increasing order but k to I decreasing order, again h to k also increasing order.
Each step + 1, - 2, + 3, - 4 .....
J + 1 = K, K - 2 = I, I + 3 = L,
L - 4 = H, H + 5 = M,
2^nd term also increases by + 2, + 3, + 4, + 5, order.
2 + 2 = 4, 4 + 3 = 7, 7 + 4 = 11, 11 + 5 = 16,
16 + 6 = 22
3^rd term decreases by 2 fixed order.
Z - 2 = X, X - 2 = V, V - 2 = T
Fourth letter will be L11T.