GBPJPY Retains Downside Bias On Bear Pressure

GBPJPY retains downside bias on bear pressure as it looks to follow through lower in the days ahead. further on Wednesday following its price extension. On the downside, support comes in at the 142.50 level where a violation will aim at the 142.00 level. A break below here will target the 141.50 level followed by the 141.00 level. Conversely, resistance is seen at the 143.50 level followed by the 144.00 level. A cut through that level will set the stage for a move further higher towards the 144.50 level. Further out, resistance resides at the 145.00 level. All in all, GBPJPY retains downside bias on bear pressure.

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