Day by day Pivots: (S1) 164.06; (P) 164.80; (R1) 166.17; Extra…
Intraday bias in GBP/JPY stays on the upside as rise from 148.93 is in progress for retesting 169.10 excessive. Robust resistance may very well be seen there to restrict upside, not less than on first try. On the draw back, beneath 159.41 minor help will flip bias again to the draw back for 148.93 once more. Nevertheless, agency break of 169.10 will verify resumption of bigger up pattern.
Within the larger image, sturdy 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.
