Each day Pivots: (S1) 186.51; (P) 187.02; (R1) 187.42; Extra…
Intraday bias in GBP/JPY stays impartial for consolidation under 188.63. Whereas deeper retreat can’t be dominated out, close to time period outlook will keep bullish so long as 184.44 help holds. On the upside, break of 188.63 will resume bigger up pattern.
Within the greater image, so long as 184.44 help holds, bigger up pattern from 123.94 (202 low) ought to nonetheless be in progress, subsequent goal is 195.86 (2015 excessive). Nonetheless, agency break of 184.44 will now argue {that a} medium time period prime is shaped, probably in bearish divergence situation in D MACD, and produce deeper fall again to 178.02 help.
