GBP/JPY Daily Outlook

GBP/JPY Daily Outlook

GBP/JPY's consolidations from 135.48 is still in progress and further retreat cannot be ruled out. But still, further rally is expected as long as 132.48 support holds. Current rise is expected to extend to 137.75 resistance first and then 38.2% retracement of 163.05 to 125.48 at 138.83. On the downside,<img src="http://feeds.feedburner.com/~r/ActionInsightallTechnical/~4/leJyjO16oSQ" height="1" width="1"/>

Source: GBP/JPY Daily Outlook