GBPJPY: Outlook bullish!GBPJPY
Intraday - We look to Buy at 164.50 (stop at 163.600)
Buying pressure from 162.00 resulted in prices rejecting the dip. The current move higher is expected to continue. The hourly chart technicals suggests further downside before the uptrend returns. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 167.00 and 168.70
Resistance: 165.65 / 168.70 / 171.90
Support: 163.70 / 162.15 / 160.60
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