Tanalys

GBP/JPY ST: bullish bias above 185.

Pivot: 185

Our preference: Long positions above 185 with targets @ 196 201.6 in extension.

Alternative scenario: Below 185 look for further downside with 179.4 175 as targets.

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

Supports and resistances:

209 **

201.6 **

196 **

186.5050 Last

185 ***

179.4 **

175 ***

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