Daily analysis of GBP/JPY for August 25, 2015 Market Analysis Review

Overview

According to the the shown H4 chart, Intraday bias in GBP/JPY is turned neutral as the cross drew support from 61.8% retracement of 174.86 to 195.86 at 182.88 and recovered. More sideway consolidations would now be seen. So far, price actions from 195.86 are viewed as a consolidation pattern and we will still expect strong support from 182.88 to contain downside. However, a sustained break of 182.88 will open up bearishness in the cross and will bring deeper fall to the 174.86 key support level.

Daily Pivots: (S1) 182.90; (P) 187.15; (R1) 191.07;

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