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GBPJPY Bounces Higher, Threatens Further Bull Pressure

GBPJPY: GBPJPY turned higher on Wednesday taking back some its losses and opening the door for more strength. On the downside, support comes in at the 183.00 level where a violation will aim at the 182.00 level. A break below here will target the 181.00 level followed by the 180.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the upside, resistance lies at the 185.00 level followed by the 186.00 level where a break will aim at the 187.00 level. A cut through here will aim at the 188.00 level. Further out, the 189.00 level comes in as the next resistance All in all, the cross remains biased to the upside on further recovery pressure

GBPJPYDaily

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