Every day Pivots: (S1) 160.58; (P) 162.52; (R1) 163.92; Extra…
Intraday bias in GBP/JPY stays impartial first. Whereas additional rise might be seen, sturdy resistance could be seen from 169.10 excessive to restrict upside, at the least 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 development.
Within the greater image, sturdy help from 38.2% retracement of 123.94 to 169.10 at 151.84 means that value 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. This can now stay the favored case so long as 148.93 help holds.
