GBPJPY Rallies On Strength With Eyes On The 135.00 Zone

11 November 2016, 01:50
FXTechstrategy
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GBPJPY: The cross remains on recovery after rejecting lower level prices on Wednesday. On the downside, support comes in at the 133.00 level where a violation will aim at the 132.00 level. A break below here will target the 131.00 level followed by the 130.00 level. Conversely, resistance is seen at the 135.00 level followed by the 136.00 level. A cut through that level will set the stage for a move further higher towards the 135.00 level. Further out, resistance resides at the 134.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY looks to recover further higher.

 

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