Daily Pivots: (S1) 199.60; (P) 200.06; (R1) 200.88; More….
Intraday bias in GBP/JPY remains neutral for the moment. Further rally is expected as long as 198.73 support holds. Firm break of 200.72 will confirm larger up trend resumption. Next target is 61.8% projection of 195.02 to 200.72 from 198.73 at 202.25.
In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.
