With a second day of recovery now underway, GBPJPY could be building up more upside pressure with eyes on its key resistance at 130.08 level. This is coming on the back of a rally started from the 126.53 level. Above here (130.08)will clear the way for a run at 132.22 level with a breach targeting the 135.09 level. Its daily RSI is has turned higher supporting this view. On the downside, the risk to this analysis will be a return below its recent low at the 126.53 level. Further down, support lies at the 125.45 level followed by the 124.50 level and then the 122.02 level, its Jan 25'2012 high. All in all, the cross remains biased to the upside though facing bear threats.