GBPJPY: With the cross seeing weakness following a rejection candle print on Wednesday, further bearish momentum threat is envisaged. On the upside, resistance resides at 185.00 level with breach targeting further strength towards the 186.00 level. A cut through here will set the stage for a move further higher towards the 187.00 level. Further out, a break above the 187.00 level will aim at the 188.00 level and subsequently the 189.00 level. On the downside, support comes in at the 184.00 level where a violation will turn focus to the 183.00 level. A break below here will target the 182.00 level followed by the 181.00 level. All in all, the cross now faces downside threat having lost its upside momentum.
25th April 2016
GBPJPY Loses Upside Steam, Bear Pressure Develops
