(GBP/JPY)

The Pound managed to gain heavily against the Yen yesterday after the pair breached the critical level at 204.11 to change the short term outlook back to the upside; however the pair now resides just below another strong resistance at 206.38, should the pair breach it to the upside it might acquire the 207.73 target, while failing to breach that level could lead the pair back to the 204.11 which offers strong support, the momentum indicators though are pointing for further upside movements on intraday basis at least. 

 

Support206.06205.42204.97204.43203.91
Resistance206.38206.87207.31207.81208.30

Recommendation

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