Daily Technical Strategist on GBPJPY
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GBPJPY: Bullish On Recovery, Eyes 179.66 level
GBPJPY: The cross is now seen recovering further and following through on the back of its Monday strength.. On the upside, resistance lies at the 179.66 level followed by the 180.50 level where a break will aim at the 181.50 level. A cut through here will aim at the 182.50 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 178.00 level where a violation will aim at the 177.00 level. A break below here will target the 176.00 level followed by the 175.00 level. Further down, support lies at the 174.00 level. All in all, the cross remains biased to the upside on recovery.