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Daily analysis of GBP/JPY for August 19, 2015

GBPJPYH4.png

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Overview

According to the shown H4 chart, intraday bias in GBP/JPY remains neutral for the moment. A rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring a reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 is not completed yet. A break of 190.99 will start the third leg of the consolidation and will target the 184.95 support.

Daily Pivots: (S1) 193.79; (P) 194.53; (R1) 195.54;



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