GBPJPY has broken it resistance level. 181 level was good resistance for this pair. The level has been broken successfully. So this pair can continue its bullish momentum in the coming trading days. In the last week, this pair has got back bullish power. So we need to stay on bullish side in the next week. We can take buy from retest of the previous broken resistance level. Next target will be 184 area.
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In Technical Indicators view
In daily chart, MACD indicator is still below 0.0 level, but it can go up in the coming trading days.
In daily chart, RSI indicator value is 58 which indicates its bullish power.
100 and 200 Moving averages are giving buy signal on this pair.
In summery, we need to stay on bull side. We need to take buy from retrace. Technical analysis gives strong buy signal on gbpjpy.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 185.87
Resistance One (R1): 183.66
Pivot Point: 179.57
Support One (S1): 177.36
Support Two (S2): 173.27