Every day Pivots: (S1) 161.53; (P) 162.72; (R1) 164.84; Extra…
GBP/JPY’s rally from 148.93 remains to be in progress and intraday bias stays on the upside. Additional rally must be seen to retest 169.10 excessive. Sturdy resistance could possibly be seen there to restrict upside, at the least on first try. On the draw back, beneath 159.41 minor help will flip intraday bias impartial first. Nevertheless, agency break of 169.10 will affirm resumption of bigger up development.
Within the larger image, robust help from 38.2% retracement of 123.94 to 169.10 at 151.84 means that worth actions from 169.10 are creating right into a corrective sample solely. That’s, rise from 123.94 (2020 low) ought to resume at a later stage. It will now stay the favored case so long as 148.93 help holds.
