GBPJPY looks to strengthen further on recovery following Its Tuesday price rejection. On the downside, support comes in at the 128.50 level where a violation will aim at the 128.00 level. A break below here will target the 127.00 level followed by the 127.00 level. Conversely, resistance is seen at the 129.50 level followed by the 130.00 level. A cut through that level will set the stage for a move further higher towards the 130.50 level. Further out, resistance resides at the 131.00 level. All in all, GBPJPY remains biased to the upside on further recovery.
GBPJPY looks to strengthen further on recovery following Its Tuesday price rejection. On the downside, support comes in at the 128.50 level where a violation will aim at the 128.00 level. A break below here will target the 127.00 level followed by the 127.00 level. Conversely, resistance is seen at the 129.50 level followed by the 130.00 level. A cut through that level will set the stage for a move further higher towards the 130.50 level. Further out, resistance resides at the 131.00 level. All in all, GBPJPY remains biased to the upside on further recovery.