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GBPJPY Rallies Off 180.37 Zone, Set To Extend Strength

GBPJPY: With the cross halting its weakness to trigger a rally during Monday trading session today, further bullish offensive is expected in the days ahead. This price action leaves room for more strength towards the 183.00 level followed by the 184.00 level. A cut through here will set the stage for a move further higher towards the 185.00 level where a break will aim at the 186.00 level. A turn above here will aim at the 187.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 181.00 level where a violation will aim at the 180.00 level. A break below here will target the 179.00 level followed by the 178.00 level. . All in all, the cross remains biased to upside nearer term on corrective recovery.

GBPJPYDaily

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