Daily Pivots: (S1) 190.78; (P) 191.91; (R1) 192.72; More…

GBP/JPY’s breach of 190.06 temporary low suggests that fall from 198.94 is resuming. Intraday bias is back on the downside for 188.07 support. Firm break there will argue that corrective pattern from 180.00 has finished too, and larger decline from 208.09 might be ready to resume. On the upside, above 193.01 resistance will delay the bearish case and turn intraday bias neutral again.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 192.00; (P) 192.50; (R1) 193.51; More…

Intraday bias in GBP/JPY remains neutral for the moment and outlook is unchanged. Rebound from 188.07 could have completed at 198.94 already. Risk will stay on the downside as long as 194.18 support turned resistance holds. Below 190.06 will target 188.07 support. Firm break there will argue that corrective pattern from 180.00 has finished too, and larger decline from 208.09 might be ready to resume.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 190.57; (P) 191.67; (R1) 193.27; More…

Intraday bias in GBP/JPY is turned neutral with current recovery. Rebound from 188.07 could have completed at 198.94 already. Risk will stay on the downside as long as 194.18 support turned resistance holds. Below 190.06 will target 188.07 support. Firm break there will argue that corrective pattern from 180.00 has finished too, and larger decline from 208.09 might be ready to resume.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 191.61; (P) 193.20; (R1) 194.19; More…

GBP/JPY’s decline from 198.94 continues today and intraday bias remains on the downside. Deeper fall would be seen to 188.07 support. Firm break there will argue that corrective pattern from 180.00 has finished too, and larger decline from 208.09 might be ready to resume. On the upside, above 192.89 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 55 4H EMA (now at 195.22) holds.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY’s extended fall last week suggests that rise from 188.07 has already completed at 198.84. Initial bias stays on the downside this week for 188.07 support. Firm break there will argue that corrective pattern from 180.00 has finished too, and larger decline from 208.09 might be ready to resume. On the upside, above 194.76 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, while a medium term top was formed at 208.09 (2024 high), it’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But GBP/JPY is at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 173.41).

Daily Pivots: (S1) 193.47; (P) 194.64; (R1) 195.81; More…

Intraday bias in GBP/JPY stays mildly on the downside for the moment. Rise from 188.07 might have completed at 198.84 already. Deeper fall would be seen to 188.07 support. Firm break there will argue that corrective pattern from 180.00 has already completed. Nevertheless, above 198.94 will target 199.79 resistance and above.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 194.76; (P) 196.15; (R1) 197.19; More…

Breach of 194.04 support argues that GBP/JPY’s rise from 188.07 might have completed at 198.94 already. Intraday bias is back on the downside for 188.07 support. Firm break there will argue that corrective pattern from 180.00 has already completed. Nevertheless, above 198.94 will target 199.79 resistance and above.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 196.65; (P) 197.46; (R1) 198.03; More…

GBP/JPY is staying in range trading below 198.84 and intraday bias remains neutral. Further rally is expected with 194.04 support intact. Break of 198.94 will resume the rise from 188.07, as a leg of the corrective pattern from 180.00, and target channel resistance (now at 204.05). However, firm break of 194.04 will turn bias to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 195.87; (P) 196.65; (R1) 198.14; More…

Intraday bias in GBP/JPY remains neutral and further rally is expected with 194.04 support intact. Break of 198.94 will resume the rise from 188.07, as a leg of the corrective pattern from 180.00, and target channel resistance (now at 203.90). However, firm break of 194.04 will turn bias to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 194.83; (P) 195.19; (R1) 195.74; More…

GBP/JPY recovers notably today but stays in range below 198.94 and intraday bias remains neutral. Outlook is unchanged that corrective pattern from 180.00 is still extending. Further rise is in favor with 194.04 minor support intact. On the upside, above 199.79 will will target channel resistance (now at 203.90). However, firm break of 194.04 will turn bias to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY retreated sharply after edging higher to 198.94 last week but stays above 194.04 support. Initial bias stays neutral this week first and outlook is unchanged. Corrective pattern from 180.00 is still extending. On the upside, above 199.79 will will target channel resistance (now at 203.90). However, firm break of 194.04 will turn bias to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, while a medium term top was formed at 208.09 (2024 high), it’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But GBP/JPY is at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 173.52).

Daily Pivots: (S1) 193.63; (P) 195.58; (R1) 196.97; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further rise is still in favor with 194.04 minor support intact. Corrective pattern from 180.00 is extending with another rising leg. On the upside, above 1999.79 will will target channel resistance (now at 203.90). However, firm break of 194.04 will turn bias to the downside fro 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 195.99; (P) 197.48; (R1) 198.63; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. Corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.90).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 197.60; (P) 198.16; (R1) 199.10; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. As noted before, corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.63).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 197.31; (P) 197.66; (R1) 198.30; More…

GBP/JPY is staying in range below 198.93 and intraday bias stays neutral. As noted before, corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.58).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 195.79; (P) 196.55; (R1) 197.34; More…

Intraday bias in GBP/JPY remains neutral at this point. As noted before, corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.19).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY’s rose further to 198.93 last week as corrective pattern from 180.00 extended with another rising leg. As a temporary top was formed, initial bias is neutral this week first. Further rally will remain in favor as long as 194.04 support holds. Break of 199.79 will target channel resistance (now at 203.09).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 172.51).

Daily Pivots: (S1) 194.27; (P) 196.61; (R1) 199.16; More…

GBP/JPY retreated ahead of 199.79 resistance and intraday bias is turned neutral first. Further rally will remain in favor as long as 194.04 support holds. Corrective pattern from 180.00 is extending, and break of 199.79 will target channel resistance (now at 202.84).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 193.90; (P) 194.84; (R1) 195.60; More…

GBP/JPY’s rally accelerates higher today and intraday bias stays on the upside for 199.79 resistance. Corrective pattern from 180.00 is extending, and break of 199.79 will target channel resistance (now at 202.84. For now, risk will stay on the upside as long as 193.88 support holds, in case of retreat.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 194.57; (P) 195.23; (R1) 195.81; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Rise from 188.07 is seen as another rising leg in the corrective pattern from 180.00. Further rally would be seen to 199.79 resistance. On the downside, break of 192.84 support will turn intraday bias back to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.