Every day Pivots: (S1) 158.96; (P) 160.82; (R1) 161.90; Extra…
Intraday bias in GBP/JPY stays impartial at this level. On the draw back, under 159.41 minor assist will flip bias again to the draw back for 148.93 once more. Nevertheless, agency break of 169.10 will affirm resumption of bigger up pattern. Additionally, whereas additional rise might be seen, sturdy resistance is perhaps seen from 169.10 excessive to restrict upside, at the very least on first try.
Within the greater image, sturdy assist from 38.2% retracement of 123.94 to 169.10 at 151.84 means that worth actions from 169.10 are growing 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 assist holds.
