GBP/JPY Daily Outlook

Daily Pivots: (S1) 183.31; (P) 184.04; (R1) 184.46; More…

Intraday bias in GBP/JPY stays mildly on the downside for the moment. Fall from 186.75 short term top is in progress for 55 D EMA (now at 181.16). For now, risk will remain on the downside as long as 186.75 resistance holds, in case of recovery.

In the bigger picture, up trend from 123.94 (2020 low) is in progress. Next target is 195.86 (2015 high). This will now remain the favored case as long as 176.29 support holds, even in case of deeper pull back.

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