GBP/JPY: Eyes Upside Pressure On Further Corrective Recovery

Mohammed Isah FXTechstrategy

GBPJPY eyes upside pressure on further corrective recovery as it retain its bull pressure. On the downside, support comes in at the 142.50 level where a violation will aim at the 142.00 level. A break below here will target the 141.50 level followed by the 141.00 level. Conversely, resistance is seen at the 143.00 level followed by the 143.50 level. A cut through that level will set the stage for a move further higher towards the 144.00 level. Further out, resistance resides at the 144.50 level. All in all, GBPJPY looks to recover higher.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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