GBPJPY Chart Technical Outlook corrects lower toward 197.10
GBP/JPY broke a bullish structure to the downside. Prices are printing a three-wave corrective structure. Wave Y is in play to the downside. The resistance zone is seen at 199.00 and 199.50. I expect more losses toward the support zone of 197.10 and 196.50. If broken, the AB=CD measured move target is located at the previous swing low of 195.50.
