GBP/JPY: The cross continues to retain its broader upside closing higher on Tuesday and leaving the risk of further strength on the cards. This development leaves the pair targeting the 174.50 level followed by the 175.00 level where a violation will expose the 176.00 level, its psycho level.
Further out, resistance resides at the 177.00 level followed by the 178.00 level. Its daily RSI is bullish and pointing higher suggesting further gains. On the other hand, support comes in at the 173.00 level followed by the 168.00 level and then the 172.50 level where a violation will aim at the 171.50 level.
Further down, support comes at the 170.50 level. All in all, the cross remains biased to the upside in the long term.
Guest post by FX Tech Strategy
