Day by day Pivots: (S1) 159.91; (P) 161.05; (R1) 162.65; Extra…
Intraday bias in GBP/JPY stays mildly on the upside as rebound from 148.93 extends larger. Additional rally ought to 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.
Within the greater image, robust help from 38.2% retracement of 123.94 to 169.10 at 151.84 means that value 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. This may now stay the favored case so long as 148.93 help holds.
