GBPJPY Chart Technical Outlook falls on hawkish BoJ talks, 188.30 in sight
GBP/JPY has printed a double-top formation with a measured target at 186.75 in the mid-term. The BoJ’s hawkish talk and upside pressure on prices and wages support JPY. It has support at 188.30, the 50% Fibo retracement level. If broken, 187.60 is the following support – a confluence of 61.8% Fibo retracement and 1.618% Fibo extension levels. Resistances are located at 189.25 and 190.00
