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GBP/JPY Mid-Day Outlook


Day by day Pivots: (S1) 153.81; (P) 157.13; (R1) 158.80; Extra…

GBP/JPY recovered strongly after diving to 148.93. Intraday bias is turned impartial first. For now, threat will keep on the draw back so long as 160.64 assist turned resistance holds. Break of 148.93 will resume the decline from 169.10 in the direction of 141.19 fibonacci degree.

Within the greater image, rise from 123.94 (2020 low) has accomplished at 169.10. 38.2% retracement of 123.94 to 169.10 at 151.84 is already met, and there might be some assist from there for rebound. However threat will now keep on the draw back so long as 169.10 resistance holds. Sustained buying and selling under 151.84 will goal 61.8% retracement at 141.19.

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