Tanalys

GBP/JPY intraday: key ST resistance at 157.8.

Pivot: 157.8

Our preference: Short positions below 157.8 with targets @ 156.6 156.05 in extension.

Alternative scenario: Above 157.8 look for further upside with 158.25 158.85 as targets.

Comment: as long as 157.8 is resistance, look for choppy price action with a bearish bias.

Key levels

158.85

158.25

157.8

157.22 last

156.6

156.05

155.5

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