Daily Forex Analysis – GBP/JPY
In today’s Daily Forex Analysis, the GBP/JPY Intraday Outlook remains neutral as the pair hovers below 186.77. A climb above 186.06 could indicate that the broader uptrend is poised to continue beyond 186.77. Conversely, a drop below 183.53 would usher in a more substantial correction, possibly reaching the 55-day EMA currently at 181.89.
In our extended Daily Analysis, it’s important to note that the underlying bullish momentum from the 2020 low of 123.96 is still alive and well. The next significant milestone lies at 195.88, the high mark of 2015. This scenario maintains its credibility as long as the critical support at 176.31 stays intact, even if we see a deeper retracement.
Analysis Summary
Today’s GBP/JPY Daily Forex Analysis suggests neutral intraday activity with a potential for either an uptrend resumption or a deeper correction. The broader bullish view remains valid as long as support at 176.31 holds. The next major upside target is 195.88.
Key Points:
- GBP/JPY neutral below 186.77, potential upside breakout.
- Key support at 176.31 sustains a bullish outlook.
- The next significant resistance lies at 195.88.
