GBPJPY – Although GBPJPY may be holding on to its medium term uptrend, it faces corrective pullback threats.
While the 180.70 level continues to hold as resistance, corrective pullback cannot be ruled out. On the downside, support comes in at the 177.00 level where a violation will aim at the 176.50 level. A break below here will target the 176.00 level followed by the 175.50 level.
Further down, support lies at the 175.00 level. Resistance lies at the 178.50 level followed by the 179.00 level where a break will aim at the 179.50 level. A cut through here will aim at the 180.00 level. All in all, the cross remains biased to the upside medium term.
