GBPJPY: With GBPJPY following through higher on the back of its Friday strength today, further strength is expected in the days ahead. On the downside, support comes in at the 164.00 level where a violation will aim at the 163.00 level. A break below here will target the 162.00 level followed by the 161.00 level. Conversely, resistance is seen at the 166.00 level followed by the 167.00 level. A cut through that level will set the stage for a move further higher towards the 168.00 level. Further out, resistance resides at the 169.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBPJPY is threatening a corrective recovery tone.
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