Further strength is now seen as the GBPJPY looks like it might strengthen towards the 132.63-75 (Jan. ’11) levels.
We might see some price hesitation ahead of that area, but we should see it to eventually give way and possibly trigger further bullishness towards the 133.04 level and maybe up towards the 134.20 level (Nov. ’10 high).
Looking down, we have key support at the 128.28 level (Jan. ’11 low), and even lower we have the 125.46 level (Dec. ’10 low).
Summoning it up, GBPJPY continues rally started at the 125.46 level.
