Forex Trading

GBP/JPY Daily Outlook – Action Forex

Daily Pivots: (S1) 187.63; (P) 187.94; (R1) 188.57; More

Intraday bias in GBP/JPY is turned neutral first with a temporary top formed at 188.89. Further rally is expected as long as 186.14 resistance turned support holds. ON the upside, break of 188.89, and sustained trading above 188.63 will confirm up trend resumption. Next target is 38.2% projection of 155.33 to 188.63 from 178.32 at 191.04.

In the bigger picture, up trend from 123.94 (2020 low) in in progress. Medium term outlook will stay bullish as long as 178.32 support holds. Next target is 195.86 long term resistance (2015 high).

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