GBPJPY: Eyes Further Weakness. Targets 144.96 Zone

The cross recovered higher on Wednesday opening the door for more strength. On the downside, support comes in at the 143.50 level where a violation will aim at the 143.00 level. A break below here will target the 142.50 level followed by the 142.00 level.

Conversely, resistance is seen at the 143.50 level followed by the 144.00 level. A cut through that level will set the stage for a move further higher towards the 144.50 level. Further out, resistance resides at the 145.00 level. All in all, GBPJPY faces further upside pressure on correction.