Daily Pivots: (S1) 185.94; (P) 187.77; (R1) 189.19; More…
Intraday bias in GBP/JPY remains neutral for the moment. Risk will stay mildly on the downside as long as 55 4H EMA (now at 189.56) holds. Break of 184.35 will resume the whole fall from 199.79. Nevertheless, sustained trading above 55 4H EMA will bring stronger rally back to 195.95 resistance instead.
In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.
 holds. Break of 184.35 will resume the whole fall from 199.79. Nevertheless, sustained trading above 55 4H EMA will bring stronger rally back to 195.95 resistance instead.){kind=link}