GBP/JPY Rallies On Strength With Eyes On The 135.00 Zone
FXTechstrategy Team | Nov 10, 2016 08:02PM ET
GBP/JPY: The cross remains on recovery after rejecting lower level prices on Wednesday. On the downside, support comes in at the 133.00 level where a violation will aim at the 132.00 level. A break below here will target the 131.00 level followed by the 130.00 level.
Conversely, resistance is seen at the 135.00 level followed by the 136.00 level. A cut through that level will set the stage for a move further higher towards the 135.00 level. Further out, resistance resides at the 134.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBP/JPY looks to recover further higher.
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