GBPJPY: Sets Up To Correct Lower
GBPJPY: The cross remains vulnerable to the downside after failing at higher level prices on Thursday. On the downside, support comes in at the 193.00 level where a violation will aim at the 192.00 level. A break below here will target the 191.00 level followed by the 190.00 level. On the upside, resistance lies at the 194.00 level followed by the 195.00 level where a break will aim at the 196.00 level. A cut through here will aim at the 197.00 level. Further out, the 198.00 level comes in as the next resistance. All in all, the cross remains biased to the downside short term.