GBPJPY – With the cross remaining bullish, further upside is expected. Resistance resides at the 171.82 level followed by the 172.78 level where a break will aim at the 173.13 level. A violation will aim at the 174.00 level and subsequently the 175.00 level.
Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 169.80 level where a break will aim at the 169.00 level. A cut through here if seen will target the 168.63 level and then the 168.00 level.
All in all, the cross remains biased to the upside on recovery.
Guest post by FX Tech Strategy