GBP/JPY Looks To Resume Short Term Uptrend
GBP/JPY looks to resume short term uptrend as it eyes further upside strength.
On the downside, support comes in at the 135.00 level where a violation will aim at the 134.50 level. A break below here will target the 134.00 level followed by the 133.50 level.
Conversely, resistance is seen at the 136.00 level followed by the 136.50 level. A cut through that level will set the stage for a move further higher towards the 137.00 level. Further out, resistance resides at the 137.50 level.
Its daily RSI is bullish and pointing higher suggesting further strength.
All in all, GBP/JPY remains biased to the upside on further recovery.
(Click on image to enlarge)