GBPJPY Chart Technical Outlook stalls below a resistance zone, waiting for risk aversion to fall
A not-hawkish-enough BoE limits GBP gains on improving risk sentiment despite the stubborn inflation. JPY is under pressure from a confirmed ultra-loose policy from the BoJ. This leaves the pair fundamentally unbiased and prices close to extending the sideway structure.
GBP/JPY has a resistance zone between 186.00 and 186.75. I expect that to hold and any rally to find sellers.
There is more chance to trade lower on completing a three-wave upward structure.
Resistances: 186.60, 188.00
Supports: 184.30, 181.50
