Daily Pivots: (S1) 145.84; (P) 146.43; (R1) 147.40; More…

The break of 146.51 minor resistance suggests that pull back from 149.30 is likely finished at 145.25 already. Intraday bias in GBP/JPY is turned back to the upside for 149.30/99 resistance zone. on the downside, below 145.25 will extend the fall from 149.30 to 143.18/76 support zone instead.

In the bigger picture, decline from 156.59 is seen as a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 145.52; (P) 145.73; (R1) 146.08; More…

Intraday bias in GBP/JPY is turned neutral with the current recovery. Focus is back on 146.51 minor resistance. Break there will argue that pull back from 149.30 has completed. And, intraday bias will be turned back to the upside for this resistance. ON the downside, below 145.25 will target 143.18/76 support zone.

In the bigger picture, decline from 156.59 is seen as a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 145.22; (P) 145.53; (R1) 145.79; More…

No change in GBP/JPY’s outlook. With 14651 minor resistance intact, deeper fall is expected to 143.18/76 support zone. Break will resume larger decline from 156.59. On the upside, though, above 146.51 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, decline from 156.59 is seen as a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

GBP/JPY’s decline from 149.30 extended lower last week as expected and outlook is unchanged. Consolidation pattern from 143.18 should have completed with three waves up to 149.30. Initial bias remains on the downside this week for 143.18/76 support zone. Break will resume larger decline from 156.59. On the upside, though, above 146.51 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, decline from 156.59 is seen as a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

In the longer term picture, the failure to sustain above 55 month EMA (now at 153.36) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.26 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 145.53; (P) 146.04; (R1) 146.31; More…

Intraday bias in GBP/JPY remains on the downside for 143.18/76 support zone. Break will resume larger decline from 156.59. On the upside, though, above 146.51 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 145.92; (P) 146.23; (R1) 146.67; More…

No change in GBP/JPY’s outlook. Deeper fall is expected to 143.18/76 support zone. Break will resume larger decline from 156.59. On the upside, though, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 145.62; (P) 145.97; (R1) 146.50; More…

GBP/JPY lost some downside momentum as seen in 4 hour MACD. But with 146.85 minor resistance intact, deeper fall is expected for 143.18/76 support zone. On the upside, though, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 145.54; (P) 145.99; (R1) 146.30; More…

Intraday bias in GBP/JPY remains on the downside for the moment. Consolidation pattern from 143.18 has completed with three waves up to 149.30 already. Deeper fall should be seen back to 143.18/76 support zone. On the upside, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 146.00; (P) 146.34; (R1) 146.69; More…

Intraday bias in GBP/JPY remains on the downside for the moment. Consolidation consolidation pattern from 143.18 has completed with three waves up to 149.30 already. Deeper fall should now be seen back to 143.18/76 support zone. On the upside, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

GBP/JPY’s sharp decline last week argues that the consolidation pattern from 143.18 has completed with three waves up to 149.30 already. Initial bias remains on the downside this week for 143.18/76 support zone. On the upside, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

In the longer term picture, the failure to sustain above 55 month EMA (now at 153.36) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.26 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 145.83; (P) 146.72; (R1) 147.28; More…

GBP/JPY’s fall from 149.30 is still in progress and intraday bias stays on the downside. As noted before, consolidation pattern from 143.18 could have completed at 149.30 already. Deeper fall would be seen back to 143.18/76 support zone. On the upside, above 147.65 minor resistance will turn bias back to the upside for 149.30/99 resistance zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 146.82; (P) 147.53; (R1) 148.20; More…

Intraday bias in GBP/JPY stays mildly on the downside. The consolidation pattern from 143.18 could have completed at 149.30 already. Deeper fall would be seen back to 143.18/76 support zone first. On the upside, however, above 149.30 will bring turn bias to the upside for 149.99 resistance

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 147.44; (P) 148.27; (R1) 148.86; More…

GBP/JPY’s break of 147.63 minor support suggests short term topping at 149.30, after failing to break 149.99 resistance. The development also argues that price action from 143.18 is a consolidation pattern that’s completed. Intraday bias is turned to he downside for retesting 143.18.76 support zone first. On the upside, above 149.30 will bring turn bias to the upside for 149.99 resistance.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 147.44; (P) 148.27; (R1) 148.86; More…

GBP/JPY failed to take out 149.99 resistance and retreated. Intraday bias is turned neutral first. On the downside, break of 147.63 minor support will argue that rise from 143.76 has completed. And intraday bias will be turned back to the downside for 143.18/76 support zone. On the upside, above 149.30/99 will target 153.84 resistance next.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 148.29; (P) 148.81; (R1) 149.12; More…

Intraday bias in GBP/JPY remains on the upside for 149.99 resistance. Break there will add more credence to the larger bullish case and target 153.84 resistance next. On the downside, though break of 147063 minor support will argue that the rebound from 143.76 might be finished and turn bias back to the downside

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 147.97; (P) 148.36; (R1) 149.08; More…

GBP/JPY’s rebound resumed after brief retreat and intraday bias is back on the upside Current rise should target 149.99 resistance first. Break there will add more credence to the larger bullish case and target 153.84 resistance next. On the downside, though break of 146.79 will argue that the rebound from 143.76 might be finished and turn bias back to the downside

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

GBP/JPY rose to as high as 148.88 last week before forming a temporary top there and retreated. As the whole rebound form 143.18 has resumed, further rise is now expected s long as 146.79 support holds. Above 148.88 will target 149.99 resistance. Break there will add more credence to the larger bullish case and target 153.84 resistance next. On the downside, though break of 146.79 will argue that the rebound from 143.76 might be finished and turn bias back to the downside

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

In the longer term picture, the failure to sustain above 55 month EMA (now at 153.36) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.26 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 147.06; (P) 147.60; (R1) 148.40; More…

GBP/JPY retreats notably after hitting 148.88. But with 146.79 minor support intact, further rise is expected for 149.99 resistance. Break of 149.99 will affirm the bullish reversal case and target 153.84 resistance next. However, break of 146.79 will turn focus back to 143.18/76 support zone instead.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 147.06; (P) 147.60; (R1) 148.40; More…

GBP/JPY’s break of 148.10 resistance indicates resumption of rebound from 143.18. Intraday bias is back on the upside for 149.99 resistance. Current development argues that the decline from 156.59 has reversed. Break of 149.99 will affirm this case and target 153.84 resistance next. On the downside, though, below 146.79 minor support will mix up the near term outlook again and turn bias neutral.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 146.87; (P) 147.33; (R1) 147.85; More…

GBP/JPY’s rebound from 143.76 resumed after steep but brief retreat. But upside is limited below 148.10 resistance and momentum is unconvincing as seen in 4 hour MACD. Intraday bias remains neutral first. On the upside, break of 1481.0 will be a strong signal of near term reversal. Further rally would be seen to 149.99 resistance for confirmation. On the downside, break of 145.17 will confirm completion of rebound from 143.76. Intraday bias will be turned back to the downside for retesting 143.17 low. Break will resume the fall from 156.59.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.