Daily Technical Strategist on GBPJPY
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GBPJPY: Recovers Higher On Correction
GBPJPY: The cross has triggered a recovery following its past week declines. This development leaves GBPJPY targeting further upside in the days ahead. On the downside, support comes in at the 182.00 level where a violation will aim at the 181.00 level. A break below here will target the 180.00 level followed by the 179.00 level. Further down, support lies at the 178.00 level. Conversely, on the upside, resistance lies at the 183.00 level followed by the 184.00 level where a break will aim at the 185.00 level. A cut through here will aim at the 186.00 level. Its daily RSI is turning higher supporting this view. All in all, the cross remains biased to the upside on corrective recovery