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GBP/JPY Daily Outlook

AzmiMohd
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Daily Pivots: (S1) 135.44; (P) 136.00; (R1) 136.80;

Intraday bias in GBP/JPY remains neutral with focus on 136.46 resistance. Decisive break there will indicate short term bottoming and turn bias back to the upside for stronger rebound back to retest 142.71. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next.

GBP/JPY Daily Outlook

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Reprinted from ActionForex，the copyright all reserved by the original author.

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Hot

JamesCap
the pair is on a level of confluence. Break above the support line and trendline could indicate a bullish run
Jafnun
for this pair, break daily bullish trend also price did make a pullback at the breakout area looking for sell entry as the price is now in a bearish bias.
Zooni
good projection on the pair!
SarahKim
🤝👍
ShaunManny
Good post !😬

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