GBP/JPY Daily Outlook

Daily Pivots: (S1) 201.51; (P) 202.11; (R1) 203.09; More

Intraday bias in GBP/JPY remains on the upside for 61.8% projection of 191.34 to 200.72 from 197.18 at 202.97. Firm break there will pave the way to 100% projection at 206.56 next. on the downside, below 200.46 minor support will turn intraday bias neutral first. But outlook will remain bullish as long as 198.90 support holds, in case of retreat.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 191.34 support holds, even in case of deep pullback.

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