GBPJPY returned lower in the intraday levels after the pair tested the pivotal resistance of 166.10, along with touching the resistance of the SMA50, affecting it negatively and bouncing it lower, with the overall dominance of the main downward trend in the medium and short terms, settling below the level of 163.97, doubling the negative pressures on the pair's next movements.

Therefore we expect more losses to come for the pair, targeting the first support at 161.00.

Trend Bearish