GBPJPY Chart Technical Outlook corrects lower toward 181.50 amid risk aversion
GBP/JPY broad bias is bullish but consolidating in a contracting structure.
The pair correlates positively with stocks. The current risk-off sentiment out of strong Inflation data from the US and weak Inflation data from China could put downside pressure on prices.
The BOE Governor, Andrew Bailey, will speak today, and his recent stance was dovish.
I expect a short-term downside price action, with dips to find buyers, eying 181.00 to 181.50
Resistances: 183.75, 185.70
Supports: 181.50, 180.25