GBPJPY - The cross now faces further weakness after turning lower ahead of its key overhead resistance at 184.42 level during Thursday trading session. Our bias remains lower as long as that level remains unbroken. On the downside, support comes in at the 182.50 level where a violation will aim at the 182.00 level. A break below here will target the 181.00 level followed by the 180.00 level. Its daily RSI is turning lower supporting this view. Conversely, resistance is seen at the 184.00 level followed by the 185.00 level. A cut through will set the stage for a move further higher towards the 186.00 level where a break will aim at the 187.00 level. A cut through here will aim at the 188.00 level. All in all, the cross remains biased to the downside nearer term on pullback.
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
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