GBPJPY
The pair is in the convergence ratesfor the past six months
Stands to move upwill be a rush to the area 189 for my opnion
Levels of support for the move lies in 168.70
Further rise could be seen to 173.60 resistance. Overall, the consolidation pattern from 174.84 is still in progress.
On the downside, support comes in at the 170.40 level where break will aim the 168.70 level
In the bigger picture monthly chart, the up trend from 116.83 (2011 low) upside trend momentum is still intact , sustained break of 163.87 support should confirm medium term topping at 174.84 and bring deeper correction to 159 support zone .
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