GBP/JPY challenges 146.00 key support zone on bearishness. This is a follow through lower on the back of its Friday losses. On the downside, support comes in at the 145.50 level where a violation will aim at the 145.00 level. A break below here will target the 144.50 level followed by the 144.00 level. Conversely, resistance comes in at the 147.00 level followed by the 147.50 level. A cut through that level will set the stage for a move further higher towards the 149.50 level. Further out, resistance resides at the 150.00 level. All in all, GBP/JPY faces further downside pressure on further decline.
