Tanalys

GBP/JPY intraday: capped by a negative trend line.

Pivot: 167.8

Our preference: Short positions below 167.8 with targets @ 165.9 165.25 in extension.

Alternative scenario: Above 167.8 look for further upside with 168.35 169.15 as targets.

Comment: the pair remains capped by a declining trend line.

Key levels

169.15

168.35

167.8

166.787 last

165.9

165.25

164.35

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