GBPJPY Move Up Halted


GBPJPY: Having rallied to take back its Monday losses on Tuesday, GBPJPY looks to strengthen more on bull pressure. On the downside, support comes in at the 169.00 level where a violation will aim at the 168.00 level. A break below here will target the 167.00 level followed by the 166.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, resistance is seen at the 171.00 level followed by the 172.00 level. A cut through that level will set the stage for a move further higher towards the 173.00 level. Further out, resistance resides at the 174.00 level


GBPJPY: Amiado Assessment

After seeing a low of 163.98, GBPJPY has rallied strongly to 170.30 but has so far been unable to hold above the 23.6 fib at 169.90. For the Bulls to have a chance of gaining control this level needs to be breached with the next serious resistance sitting at the 38.2 fib 173.51.




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