FX.co ★ Daily analysis of GBP/JPY for August 19, 2015

Overview

According to the shown H4 chart, intraday bias in GBP/JPY remains neutral for the moment. A rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring a reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 is not completed yet. A break of 190.99 will start the third leg of the consolidation and will target the 184.95 support.

Daily Pivots:

• (S1) 193.79;
• (P) 194.53;
• (R1) 195.54;