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GBPJPY: Bullish But With Caution Ahead Of Key Resistance

GBPJPY: GBPJPY remains bullish but looks hesitant around its overhead resistance. We think a pullback should occur at this level. On the downside, support comes in at the 187.00 level where a violation will aim at the 186.00 level. A break below here will target the 185.00 level followed by the 184.00 level. On the upside, resistance lies at the 189.00 level followed by the 190.50 level where a break will aim at the 191.50 level. A cut through here will aim at the 192.00 level. Further out, the 192.50 level comes in as the next resistance. All in all, the cross remains biased to the upside.

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