Daily Pivots: (S1) 181.26; (P) 181.91; (R1) 183.08; More…
Intraday bias in GBP/JPY is mildly on the upside with break of 182.10 temporary top. Current up trend should be seen to 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36. On the downside, however, break of 179.90 support will confirm short term topping, and turn bias back to the downside for deeper pull back.
In the bigger picture, up trend from 123.94 (2020 low) is extending. Next target is 195.86 (2015 high). For now, medium term outlook will remain bullish as long as 172.11 resistance turned support holds, even in case of deep pull back.
