[CAVEAT EMPTOR]
GBPJPY
Long term, the pair is looking to move further uphill looking at 188 then 192 and probably 195 (best scenario). Based from the trades from yesterday, we could look at the following key areas if the pair will range and test these key areas. (187.40/.30, 187.00/186.80, 186.40/186.20).
For upside the pair would try to break the 187.40/187.30 area for it to reach my initial target of 187.60/187.70 area.
Intra-day it might try to retest the 187.00/186.80 area as that level gave the bulls a hard time to break and maintain last week.
If the bears take over, another support area would be the range 186.40/186.20 as heavy contention between the bulls and the bears happened there yesterday before the pair went up :)
Pivot Point 186.88
Support and Resistances
R1 187.78
R2 188.34
R3 189.24
R4 189.80
S1 186.32
S2 185.42
S3 184.86
S4 183.96
