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GBPJPY: With the cross declining strongly on Thursday, it faces further weakness. On the downside, support comes in at the 177.50 level where a violation will aim at the 177.00 level. A break below here will target the 176.00 level followed by the 175.00 level. Further down, support lies at the 174.00 level.

Conversely, on the upside, resistance lies at the 179.00 level followed by the 180.00 level where a break will aim at the 181.00 level. A cut through here will aim at the 182.00 level.. All in all, the cross remains biased to the downside.

GBP JPY March 20 2015 technical analysis pound yen

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