GBPJPY – Watch out for further strength as more gains are envisaged. cross is now seen hesitating suggesting a corrective pullback. On the upside, resistance lies at the 183.50 level followed by the 184.50 level where a break will aim at the 185.50 level.
A cut through here will aim at the 186.50 level. Its daily RSI is bullish and pointing higher supporting this view.
On the downside, support comes in at the 180.70 level where a violation will aim at the 179.50 level. A break below here will target the 178.50 level followed by the 177.00 level. Further down, support lies at the 176.00 level. All in all, the cross remains biased to the upside on recovery.
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