GBPJPY: With GBPJPY taking back its intraday price losses to close lower on Thursday, further bearishness is envisaged. On the downside, support comes in at the 161.00 level where a violation will aim at the 160.50 level. A break below here will target the 160.00 level followed by the 159.00 level. Its daily RSI bearish and pointing lower suggesting further weakness. Conversely, resistance is seen at the 163.00 level followed by the 164.00 level. A cut through that level will set the stage for a move further higher towards the 165.00 level. Further out, resistance resides at the 166.00 level. All in all, GBPJPY looks to weaken further on intraday price losses.
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