Daily Pivots: (S1) 195.80; (P) 196.80; (R1) 197.66; More…

Intraday bias in GBP/JPY is turned neutral again with current retreat. On the upside, break of 199.79 will resume whole rebound from 180.00. However, firm break of 193.54 will extend the fall from 199.79 to 183.70 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) 194.35; (P) 195.37; (R1) 197.16; More…

GBP/JPY’s strong rebound an break of 196.13 minor resistance suggests that pull back from 199.79 has already completed. The development also revive near term bullishness. Intraday bias is back on the upside for retesting 199.79 resistance first. Firm break there will rebound whole rebound from 180.00.

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) 194.93; (P) 195.54; (R1) 196.71; More…

GBP/JPY’s fall from 199.79 resumed after brief consolidations and intraday bias is back on the downside. As noted before, corrective rise from 180.00 could have completed with three waves up to 199.79, after hitting channel resistance. Break of 193.45 resistance turned support will target 183.70 next. On the upside, above 196.13 minor resistance will 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) 194.93; (P) 195.54; (R1) 196.71; More…

Intraday bias in GBP/JPY is turned neutral first as consolidation from 194.28 extends. But further decline is expected as long as 198.43 resistance holds. Corrective rise from 180.00 could have completed with three waves up to 199.79, after hitting channel resistance. Below 194.28 will target 193.45 resistance turned support. Decisive break there will target 183.70 next. Nevertheless, break of 198.43 will dampen this bearish view and bring retest of 199.79 high 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) 193.21; (P) 195.83; (R1) 197.37; More…

Intraday bias in GBP/JPY stays on the downside despite today’s weak recovery. Prior break of 55 D EMA (now at 195.23) argues that corrective rise from 180.00 has completed with three waves up to 199.79, after hitting rising channel resistance. Further decline would be seen to 193.45 resistance turned support. Decisive break there will target 183.70 next. For now, risk will stay on the downside as long as 198.43 resistance holds, in case of recovery.

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 late decline and break of 55 D EMA (now at 195.24) argue that corrective rise from 180.00 has completed with three waves up to 199.79, after hitting rising channel resistance. Initial bias is back on the downside this week. Firm break of 193.45 resistance turned support will bring deeper fall to 183.70 next. For now risk will stay on the downside as long as 198.43 resistance holds, in case of recovery.

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 172.07).

Daily Pivots: (S1) 197.28; (P) 197.76; (R1) 198.45; More…

GBP/JPY is still bounded in sideway trading below 199.79 and intraday bias stays neutral. Further rally is expected as long as 55 D EMA (now at 195.24) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 196.89; (P) 197.35; (R1) 198.05; More…

Intraday bias in GBP/JPY remains neutral as range trading continues below 199.79. Further rally is expected as long as 55 D EMA (now at 195.24) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 196.64; (P) 197.36; (R1) 197.82; More…

GBP/JPY continues to trade sideway and intraday bias remains neutral. Further rally is expected as long as 55 D EMA (now at 195.05) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 197.03; (P) 197.75; (R1) 198.57; More…

Range trading continues in GBP/JPY and intraday bias stays neutral for the moment. Further rally is expected as long as 55 D EMA (now at 194.99) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 196.32; (P) 197.62; (R1) 198.50; More…

Intraday bias in GBP/JPY remains neutral and more consolidations could be seen below 199.79. Further rally is expected as long as 55 D EMA (now at 194.99) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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 stayed in range below 199.79 last week and outlook is unchanged. Initial bias remains neutral this week for more consolidations. Further rally is expected as long as 55 D EMA (now at 194.79) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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 172.07).

Daily Pivots: (S1) 198.08; (P) 198.82; (R1) 199.31; More…

GBP/JPY dips notably today as consolidation from 199.79 extends. Intraday bias remains neutral first. Further rally is expected as long as 55 D EMA (now at 194.79) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 197.79; (P) 198.66; (R1) 200.02; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 199.79 could extend. Further rally is expected as long as 55 D EMA (now at 194.80) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 197.18; (P) 197.53; (R1) 198.07; More…

GBP/JPY is extending consolidation from 199.79 and intraday bias stays neutral. Further rally is expected as long as 55 D EMA (now at 194.61) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 196.45; (P) 197.17; (R1) 197.85; More…

Intraday bias in GBP/JPY stays neutral as consolidating from 199.79 is extending. Further rally is expected as long as 55 D EMA (now at 194.48) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 196.10; (P) 197.24; (R1) 198.69; More…

Intraday bias in GBP/JPY remains neutral for consolidations below 199.79. Further rally is expected as long as 55 D EMA (now at 194.26) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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 edged higher to 199.79 last week but retreat again. Initial bias stays neutral this week first for more consolations. Further rally is expected as long as 55 D EMA (now at 194.26) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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 172.07).

Daily Pivots: (S1) 194.75; (P) 196.83; (R1) 198.22; More…

Intraday bias in GBP/JPY remains neutral for the moment. While pullback from 199.79 might extend lower, further rally would remain in favor as long as 55 D EMA (now at 194.22) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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) 198.10; (P) 198.96; (R1) 199.70; More…

A temporary top is formed at 199.79 in GBP/JPY with current retreat. Intraday bias is turned neutral for consolidations first. Further rally would remain in favor as long as 55 D EMA (now at 194.20) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will argue that the corrective rise has completed already, and turn near term outlook bearish for 180.00/183.70 support zone.

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.