Special Focus On GBPJPY
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GBPJPY: Sees Bearish Follow Through Lower
GBPJPY: With the cross facing price extension from its Tuesday weakness, further downside pressure is now seen. On the downside, support comes in at the 181.00 level where a violation will aim at the 180.00 level. A break below here will target the 179.00 level followed by the 178.00 level. Further down, support lies at the 177.00 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 though pulling back.