Daily Pivots: (S1) 183.12; (P) 183.95; (R1) 184.51; More…
Intraday bias in GBP/JPY is mildly on the downside with breach of 183.34. Correction from 186.75 is extend lower to 55 D EMA (now at 182.22). Nevertheless, break of 185.76 resistance will turn bias back to the upside for retesting 186.75 high instead.
In the bigger picture, up trend from 123.94 (2020 low) is in progress. Next target is 195.86 (2015 high). This will remain the favored case as long as 176.29 support holds, even in case of deeper pull back.
. Nevertheless, break of 185.76 resistance will turn bias back to the upside for retesting 186.75 high instead.){kind=link}