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JPMorgan: GBP/JPY open for more growth

According to strategists at JPMorgan, the GBP/JPY cross remains open for more growth towards 183.98 and 185.01 (50 % Fibonacci / monthly Ichimoku). The picture remains bullish as long as the 172.40/00 area acts as a support.

However, daily close below the 172.00 mark would open the way for a deeper pullback to 164.58/163.88 or even to 153.77/19.

Chart. Monthly GBP/JPY



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