November 2, 2015
GBPJPY: The cross may have closed the week flat but still faces upside threats while its key support at the 183.86 level remains unbroken. Its also continues to trade above its rising trendline (red). On the downside, support comes in at the 185.00 level where a violation will aim at the 184.00 level. A break below here will target the 183.00 level followed by the 182.00 level. Conversely, resistance is seen at the 186.72 level followed by the 187.50 level. A cut through will set the stage for a move further higher towards the 188.00 level where a break will aim at the 189.00 level. A cut through here will aim at the 189.50 level. All in all, the cross remains biased to the upside above key support.
By www.fxtechstrategy.com
