Special Focus On GBPJPY
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GBPJPY: Reverses Losses, Eyes Further Upside
GBPJPY: With GBPJPY reversing its one-day corrective weakness, it now faces further upside risk in the days ahead. This development leaves the threat of a move higher in the days ahead. On the downside, support comes in at the 188.00 level where a violation will aim at the 187.00 level. A break below here will target the 186.00 level followed by the 185.00 level. On the upside, resistance lies at the 189.00 level followed by the 190.00 level where a break will aim at the 191.50 level. A cut through here will aim at the 191.00 level. Further out, the 192.00 level comes in as the next resistance. All in all, the cross remains biased to the upside as it is threatening to resume its broader uptrend.