GBP/JPY: Bearish Downside Pressure

GBP/JPY: The cross remains vulnerable to the downside on further weakness as it retains its bearish bias. On the downside, support comes in at the 148.00 level where a violation will aim at the 147.50 level. A break below here will target the 147.00 level followed by the 146.50 level. Conversely, resistance is seen at the 149.00 level followed by the 149.50 level. A cut through that level will set the stage for a move further higher towards the 150.00 level. Further out, resistance resides at the 150.50 level. All in all, GBP/JPY remains weak and vulnerable to the downside.

Daily GBP/JPY

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