GBPJPY – The cross may continue to maintain its broader uptrend medium term but faces corrective pullback risk. On the upside, resistance lies at the 186.00 level followed by the 187.00 level where a break will aim at the 188.00 level.
A cut through here will aim at the 188.50 level. On the downside, support comes in at the 183.00 level where a violation will aim at the 182.00 level. A break below here will target the 181.00 level followed by the 180.00 level.
Further down, support lies at the 179.50 level. All in all, the cross remains biased to the upside medium term.
