GBP/JPY was bounded in range trading above 187.04 last week. Initial bias stays neutral this week first. Further decline is in favor as long as 193.04 resistance holds. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support. That will also raise the chance that correction from 208.09 is resuming downward.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

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 173.92).

Daily Pivots: (S1) 188.20; (P) 189.15; (R1) 189.73; More…

Intraday bias in GBP/JPY remains neutral for now, and risk stays mildly on the downside with 193.04 resistance intact. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support. That will also raise the chance that correction from 208.09 is resuming downward.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 188.32; (P) 189.09; (R1) 189.77; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. Risk will be mildly on the downside as long as 193.04 resistance holds. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 188.04; (P) 188.89; (R1) 189.62; More…

Outlook in GBP/JPY is unchanged and intraday bias stays neutral. Risk will be mildly on the downside as long as 193.04 resistance holds. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 188.29; (P) 188.95; (R1) 189.66; More…

Intraday bias in GBP/JPY stays neutral at this point. Risk will be mildly on the downside as long as 193.04 resistance holds. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 187.51; (P) 189.22; (R1) 190.30; More…

Intraday bias in GBP/JPY remains neutral for the moment. Risk will be mildly on the downside as long as 193.04 resistance holds. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

GBP/JPY’s decline last week should confirm prior rejection by 55 D EMA (now at 192.44) which is a bearish sign. However, downside is still contained well above 187.04 support. Initial bias remains neutral this week first. On the downside, firm break of 187.04 will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

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 173.92).

Daily Pivots: (S1) 188.59; (P) 189.64; (R1) 190.59; More…

Intraday bias in GBP/JPY is turned neutral again with current recovery. Overall outlook is unchanged that corrective pattern from 180.00 could extend further. On the upside, above 193.04 will target 194.73 resistance, and possibly further to 198.94. On the downside, though, break of 187.04 support will extend the fall from 199.79 towards 180.00 support.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 190.00; (P) 191.11; (R1) 191.76; More…

Intraday bias in GBP/JPY is now mildly on the downside as fall from 193.04 accelerates lower. Break of 187.04 support will extend the fall from 19979 towards 180.00 support. On the upside, above 190.64 minor resistance will turn intraday bias neutral again first, and probably extend the corrective pattern from 180.00 further.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 191.12; (P) 191.53; (R1) 192.22; More…

Intraday bias in GBP/JPY remains neutral for the moment. Outlook is unchanged that corrective pattern from 180.00 is extending, possibly with rebound from 187.04 as another upleg. Above 193.04 will target 194.73 resistance first. Firm break there will solidify this case and target 198.94 next.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 190.69; (P) 191.23; (R1) 191.83; More…

Intraday bias in GBP/JPY remains neutral at this point. Outlook is unchanged that corrective pattern from 180.00 is extending, possibly with rebound from 187.04 as another upleg. Above 193.04 will target 194.73 resistance first. Firm break there will solidify this case and target 198.94 next.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 191.26; (P) 191.88; (R1) 192.29; More…

Intraday bias in GBP/JPY remains neutral for the moment. Overall, corrective pattern from 180.00 is extending, possibly with rebound from 187.04 as another upleg. Above 193.04 will target 194.73 resistance first. Firm break there will solidify this case and target 198.94 next.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

GBP/JPY’s strong rebound last week suggests that fall from 198.94 has completed at 187.04 already. But with a temporary top formed at 193.04, initial bias remains neutral this week first. Overall, corrective pattern from 180.00 is extending, possibly with rebound from 187.04 as another upleg. Above 193.04 will target 194.73 resistance first. Firm break there will solidify this case and target 198.94 next.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.

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 173.92).

Daily Pivots: (S1) 191.11; (P) 192.09; (R1) 192.99; More…

GBP/JPY retreated after rising to 193.04 and intraday bias is turned neutral first. Overall, corrective pattern from 180.00 is extending, possibly with rebound from 187.04 as another upleg. Above 193.04 will target 194.73 resistance first. Firm break there will solidify this case and target 198.94 next.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 188.07; (P) 188.99; (R1) 190.74; More…

GBP/JPY’s extended rebound suggests that fall from 198.94 has completed with three waves down to 194.73. Intraday bias is now on the upside for 194.73 resistance first. Firm break there will solidify this case and target 198.94 next. On the downside, below 190.75 minor support will turn intraday bias neutral again. Overall, corrective pattern from 180.00 would likely extend for a while.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 188.07; (P) 188.99; (R1) 190.74; More…

GBP/JPY’s rebound extended higher today and intraday bias is turned neutral first. On the downside, break of 187.04 will resume the fall from 198.94 to 100% projection of 198.94 to 189.31 from 194.73 at 185.10. However, firm break of 194.73 resistance will suggest that the decline has completed, and turn bias back to the upside for 198.94. Overall, sideway corrective pattern from 180.00 might still extend further.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 186.95; (P) 188.05; (R1) 189.07; More…

With 189.57 minor resistance intact, intraday bias in GBP/JPY stays on the downside for 100% projection of 198.94 to 189.31 from 194.73 at 185.10. Decisive break there will target 138.2% projections at 181.42. On the upside, above 189.57 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 194.73 resistance holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

Daily Pivots: (S1) 186.70; (P) 188.14; (R1) 189.24; More…

Intraday bias in GBP/JPY remains on the downside for 100% projection of 198.94 to 189.31 from 194.73 at 185.10. Decisive break there will target 138.2% projections at 181.42. On the upside, above 189.57 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 194.73 resistance holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

GBP/JPY’s fall accelerated lower last week and there is no sign of bottoming yet. Initial bias stays on the downside this week for 100% projection of 198.94 to 189.31 from 194.73 at 185.10. Decisive break there will target 138.2% projection at 181.42. On the upside, above 189.57 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 194.73 resistance holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall to 100% projection of 208.09 to 180.00 from 199.79 at 171.70, even still as a correction.

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 173.92).

Daily Pivots: (S1) 187.28; (P) 189.13; (R1) 190.18; More…

Intraday bias in GBP/JPY remains on the downside for the moment. Corrective pattern from 180.00 might have completed already. Deeper fall would be seen to 100% projection of 198.94 to 189.31 from 194.73 at 185.10. For now, risk will stay on the downside as long as 194.73 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.