Tanalys

GBP/JPY Intraday: bullish bias above 172.25.

Pivot: 172.25

Our preference: Long positions above 172.25 with targets @ 173.6 174.1 in extension.

Alternative scenario: Below 172.25 look for further downside with 171.3 170.5 as targets.

Comment: a support base at 172.25 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

174.8

174.1

173.6

172.35 Last

172.25

171.3

170.5

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