Tanalys

GBP/JPY Intraday: bullish bias above 185.5.

Pivot: 185.5

Our preference: Long positions above 185.5 with targets @ 186.75 187.3 in extension.

Alternative scenario: Below 185.5 look for further downside with 184.6 183.9 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:

187.8 **

187.3 ***

186.75 ***

186 Last

185.5 ***

184.6 ***

183.9 **

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