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GBPJPY: Bullish, Threatens Further Upside Pressure

GBPJPY: With the cross closing higher on Tuesday and following through on Wednesday, more strength is likely in the days ahead. On the upside, resistance lies at the 180.50 level followed by the 181.50 level where a break will aim at the 182.00 level. A cut through here will aim at the 183.00 level. Its daily RSI is bullish and pointing higher suggesting further strength.On the downside, support comes in at the 178.45 level where a violation will aim at the 177.50 level. A break below here will target the 177.00 level followed by the 176.00 level. Further down, support lies at the 175.50 level. All in all, the cross remains broadly biased to the downside but faces recovery threats

GBPJPYDaily

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