GBPJPY – With a pullback underway, the cross faces further downside pressure. Resistance lies at the 174.00 level where a break will aim at the 175.50 level. A cut through here will aim at the 176.00 level. On the downside, support comes in at the 172.08 level where a violation will aim at the 171.50 level. A break will aim at the 171.50 level followed by the 170.50 level. Further down, support lies at the 170.00 and. All in all, the cross remains biased to the upside medium term.
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