Each day Pivots: (S1) 182.69; (P) 183.35; (R1) 184.19; Extra…
GBP/JPY’s correction from 183.99 is extending at present. Agency break of 182.12 assist will deliver deeper fall to 55 D EMW (now at 175.98). However draw back needs to be contained above 172.30 resistance turned assist to deliver one other rally. On the upside, break of 183.99 will resume bigger up pattern.
Within the greater image, up pattern from 123.94 (2020 low) is extending. Subsequent goal is 195.86 (2015 excessive). For now, medium time period outlook will stay bullish so long as 172.11 resistance turned assist holds, even in case of deep pull again.
