Daily Pivots: (S1) 154.04; (P) 155.06; (R1) 155.70; More…

With 153.66 support intact, further rally is expected in GBP/JPY. Next target is 100% projection of 139.29 to 152.82 from 146.96 at 160.49. However, break of 1.5366 will indicate short term topping and turn bias back to the downside for 150.18 support.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 154.49; (P) 155.09; (R1) 156.07; More…

GBP/JPY’s rally resumed after brief consolidations. Intraday bias is back on the upside. Current rise should now target 100% projection of 139.29 to 152.82 from 146.96 at 160.49. On the downside, break of 153.66 resistance turned support is needed to signal short term topping. Otherwise, outlook will remain bullish in cas of retreat.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 153.60; (P) 154.50; (R1) 155.27; More…

GBP/JPY formed a temporary top at 155.38 after hitting 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Intraday bias is turned neutral. Outlook will remain bullish as long as 153.10 minor support holds. Break of 155.32 will target 100% projection at 160.49. Though, break of 153.10 will indicate short term topping and bring pull back to 150.18 support.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 153.98; (P) 154.61; (R1) 155.79; More…

GBP/JPY’s rally extended and met mentioned target of 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Intraday bias will remain on the upside as long as 153.10 minor support holds. Break of 155.32 will target 100% projection at 160.49. Though, break of 153.10 will indicate short term topping and bring pull back to 150.18 support.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 152.91; (P) 153.65; (R1) 154.21; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 154.56 temporary top. Outlook will stay bullish as long as 150.18 support holds. Above 154.56 will extend the medium term up trend to 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Break will target 100% projection at 160.49

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

GBP/JPY’s up trend resumed last week and reached as high as 154.56. As a temporary top was formed there, initial bias is neutral this week first. Outlook will stay bullish as long as 150.18 support holds. Above 154.56 will extend the medium term up trend to 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Break will target 100% projection at 160.49

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

In the longer term picture, down trend from 195.86 (2015 high) has already completed at 122.36. Focus is now on 55 month EMA (now at 154.75). Firm break there will suggest that rise from 122.36 is developing into a long term move that target 195.86 again. And, price actions from 116.83 (2011 low) is indeed a sideway pattern that could last more than a decade.

Daily Pivots: (S1) 153.78; (P) 154.17; (R1) 154.74; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current rally should target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Break will target 100% projection at 160.49. On the downside, below 153.08 minor support will turn intraday bias neutral again. But outlook will stay bullish as long as 150.18 support holds.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 152.58; (P) 153.43; (R1) 154.73; More…

Break of 153.66 resistance indicates resumption of medium term up trend. Intraday bias in GBP/JPY is turned back to the upside. Next target is 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Break will target 100% projection at 160.49. On the downside, below 153.08 minor support will turn intraday bias neutral again. But outlook will stay bullish as long as 150.18 support holds.

In the bigger picture, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And there would be prospect of retesting 122.36 in that case.

Daily Pivots: (S1) 151.88; (P) 152.49; (R1) 152.93; More…

GBP/JPY continues to stay in range below 153.66 and intraday bias remains neutral. On the upside, break of 153.66 will resume medium term up trend. Meanwhile, break of 149.40 support will indicate trend reversal and turn focus to 149.96 for confirmation.

In the bigger picture, considering bearish divergence condition in daily MACD, the steep fall from 153.66 is now seen as first sign of trend reversal. Focus will turn to 146.96 support. Firm break there will at least confirm medium term topping and target 139.39 support next.

Daily Pivots: (S1) 151.98; (P) 152.39; (R1) 152.86; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, break of 153.66 will resume medium term up trend. Meanwhile, break of 149.40 support will indicate trend reversal and turn focus to 149.96 for confirmation.

In the bigger picture, considering bearish divergence condition in daily MACD, the steep fall from 153.66 is now seen as first sign of trend reversal. Focus will turn to 146.96 support. Firm break there will at least confirm medium term topping and target 139.39 support next.

Daily Pivots: (S1) 151.03; (P) 151.84; (R1) 153.21; More…

GBP/JPY drew strong support from 55 day EMA and rebounded. Intraday bias is turned neutral first. On the upside, break of 153.66 will resume medium term up trend. Meanwhile, break of 149.40 support will indicate trend reversal and turn focus to 149.96 for confirmation.

In the bigger picture, considering bearish divergence condition in daily MACD, the steep fall from 153.66 is now seen as first sign of trend reversal. Focus will turn to 146.96 support. Firm break there will at least confirm medium term topping and target 139.39 support next.

Daily Pivots: (S1) 149.70; (P) 151.14; (R1) 151.94; More…

The sharp fall from 153.66 is now taken as an early sign of trend reversal in GBP/JPY. Intraday bias is now on the downside for 149.40 support first. Break will target 146.96 key support next. On the upside, above 151.74 minor resistance will turn intraday bias neutral.

In the bigger picture, considering bearish divergence condition in daily MACD, the steep fall from 153.66 is now seen as first sign of trend reversal. Focus will turn to 146.96 support. Firm break there will at later confirm medium term topping and target 139.39 support next.

Daily Pivots: (S1) 151.77; (P) 152.66; (R1) 153.40; More…

No change in GBP/JPY’s outlook. As long as 151.74 minor support holds, further rally is in favor. Current rise should target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. However, firm break of 151.74 will turn focus back to 149.40 support instead.

In the bigger picture, it now looks like GBP/JPY has finally taken out 38.2% retracement of 195.86 to 122.36 at 150.43. Medium term rise from 122.36 should be targeting 61.8% retracement at 167.78. This will now be the favored case as long as 146.96 support remains intact.

Daily Pivots: (S1) 152.96; (P) 153.31; (R1) 153.76; More…

No change in GBP/JPY’s outlook even though it’s losing upside momentum. As long as 151.74 minor support holds, further rally is expected. Current rise should target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32 first. Break will target 100% projection at 160.49 next. However, firm break of 151.74 will turn focus back to 149.40 support instead.

In the bigger picture, it now looks like GBP/JPY has finally taken out 38.2% retracement of 195.86 to 122.36 at 150.43. Medium term rise from 122.36 should be targeting 61.8% retracement at 167.78. This will now be the favored case as long as 146.96 support remains intact.

Daily Pivots: (S1) 152.80; (P) 153.21; (R1) 153.74; More…

Intraday bias in GBP/JPY remains on the upside. Current rally would target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32 first. Break will target 100% projection at 160.49 next. On the downside, break of 151.74 is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, it now looks like GBP/JPY has finally taken out 38.2% retracement of 195.86 to 122.36 at 150.43. Medium term rise from 122.36 should be targeting 61.8% retracement at 167.78. This will now be the favored case as long as 146.96 support remains intact.

GBP/JPY’s rise from 149.40 extended last week. Breach of 153.39 resistance suggests resumption of medium term rally. Initial bias remains on the upside this week for 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32 first. Break will target 100% projection at 160.49. On the downside, break of 151.74 is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, it now looks like GBP/JPY has finally taken out 38.2% retracement of 195.86 to 122.36 at 150.43. Medium term rise from 122.36 should be targeting 61.8% retracement at 167.78. This will now be the favored case as long as 146.96 support remains intact.

In the longer term picture, current rebound argues that the down trend from 195.86 (2015 high) has already completed at 122.36. Focus is now on 55 month EMA (now at 154.74). Firm break there will suggest that rise from 122.36 is developing into a long term move that target 195.86 again. And, price actions from 116.83 (2011 low) is indeed a sideway pattern that could last more than a decade.

Daily Pivots: (S1) 152.16; (P) 152.56; (R1) 153.17; More…

GBP/JPY’s rise rebound is still in progress for 153.39 resistance. Decisive break there will resume medium term rally On the downside, below 151.74 minor support will extend the corrective pattern with another fall through 149.40 before completion.

In the bigger picture, outlook is mixed up a bit with last week’s sharp decline. But still, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And the corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.

Daily Pivots: (S1) 151.60; (P) 152.20; (R1) 152.67; More…

With 151.51 minor support intact, rebound from 149.40 is expected to continue to 153.39 resistance. Break will resume medium term rally. On the downside, below 151.51 minor support will extend the corrective pattern with another fall through 149.40 before completion.

In the bigger picture, outlook is mixed up a bit with last week’s sharp decline. But still, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And the corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.

Daily Pivots: (S1) 152.08; (P) 152.40; (R1) 152.94; More…

Intraday bias in GBP/JPY remains on the upside as rebound from 149.40 continues to 153.39 resistance. Break will resume medium term rally. On the downside, below 151.51 minor support will extend the corrective pattern with another fall through 149.40 before completion.

In the bigger picture, outlook is mixed up a bit with last week’s sharp decline. But still, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And the corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.

Daily Pivots: (S1) 151.59; (P) 152.05; (R1) 152.59; More…

GBP/JPY’s rebound form 149.40 resumed and intraday bias is cautiously on the upside for 153.39 resistance. Break will resume medium term rally. On the downside, below 151.17 minor support will extend the corrective pattern with another fall through 149.40 before completion.

In the bigger picture, outlook is mixed up a bit with last week’s sharp decline. But still, as long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal. And the corrective structure of rebound from 122.36 will argue that larger down trend is resuming for a new low below 122.26.