GBP/JPY Daily Outlook
Daily Pivots: (S1) 170.80; (P) 172.21; (R1) 173.24; More.....
The break of 171.29 minor support dampens the immediate bullish case and suggests that consolidation from 174.84 is still in progress. Intraday bias is mildly back on the downside for 168.34 and below. ON the upside, break of 174.84 will confirm larger up trend resumption.
In the bigger picture, the up trend from 116.83 is still in progress and there is no sign of reversal yet. Break of 159.98 resistance turned support is needed to indicate medium term topping. Otherwise, outlook will stay bullish. The up trend from 116.83 should target 50% retracement re