GBP/JPY: The cross closed higher on Monday and was seen following through higher as at the time of this analysis. On the downside, support comes in at the 154.00 level where a violation will aim at the 153.00 level. A break below here will target the 152.00 level followed by the 151.00 level. Conversely, resistance is seen at the 155.00 level followed by the 156.00 level. A cut through that level will set the stage for a move further higher towards the 157.00 level. Further out, resistance resides at the 158.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GBP/JPY looks to strengthen further but with caution.
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