GBPJPY: The pair remains weak and vulnerable to the downside. While it holds and trades below its resistance at 186.30 level, immediate bias remains to the downside. On the downside, support comes in at the 184.00 level where a violation will aim at the 183.00 level. A break below here will target the 182.00 level followed by the 181.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 185.00 level followed by the 186.00 level. A cut through that level will set the stage for a move further higher towards the 187.00 level. Further out, resistance resides at the 188.00 level and next the 189.00 level. All in all, the cross remains biased to the downside on recovery below the 186.30 level.
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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