GBPJPY: Strengthens, Eyes The 174.00 Level


GBPJPY – With GBPJPY extending its Friday strength, further bullishness is envisaged. On further gains, resistance lies at the 173.50 level followed by the 174.21 level where a break will aim at the 175.50 level.

A cut through here will open the door for more downside towards the 176.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 172.50 level where a violation will aim at the 172.00 level.

A break below here will target the 171.50 level followed by the 171.00 level. Further down, support lies at the 170.50 level. All in all, the cross remains biased to the upside medium term


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