GBPJPY: The cross may remain weak and vulnerable to the downside but could head higher while holding above the 180.22/33 support area. Bull pressure is envisaged above that zone. 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. Conversely, resistance is seen at the 183.00 level followed by the 184.00 level. A cut through will set the stage for a move further higher towards the 185.00 level where a break will aim at the 186.00 level. A cut through here will aim at the 187.00 level. All in all, the cross remains biased to the downside but may struggle.
25th April 2016
GBPJPY Faces Bear Threats But With Caution
