[alert color=”grey”] Intraday Support : 161.60, 160.15, 159.50 Intraday Resistance: 162.50, 164.00, 164.60 [/alert]
The GBPJPY maintains the breakout of the minor falling wedge pattern that was formed following the latest bullish wave from 154.70 low. The breakout extended the upside towards the falling trend line outlined on chart. The upside remains likely in the near term, however we will be cautious as we approach the main previous swing high which meets the 50-days simple moving average around 163.90 level.
[alert color=”green”] GBPJPY Forecast for today: Bullish towards 164.00 as long as above 161.00.[/alert]