Daily Pivots: (S1) 200.82; (P) 201.10; (R1) 201.45; More…

GBP/JPY is staying below 201.59 resistance for now and intraday bias stays neutral first. Further rally is expected as long as 198.90 support holds. Firm break of 201.59 will resume larger up trend. However, on the downside, break of 198.90 will turn bias back to the downside for deeper pullback to 197.18 support instead.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 133.96; (P) 134.46; (R1) 135.03; More…

Intraday bias in GBP/JPY remains neutral for the moment. Another rise cannot be ruled out. But upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to complete the corrective rebound from 123.94. On the downside, break of 132.40 will turn intraday bias back to the downside.

In the bigger picture, price actions from 122.75 (2016 low) are merely a sideway consolidation pattern, which has completed at 147.96. Larger down trend from 195.86 (2015 high) as well as that from 251.09 (2007 high) are possibly resuming. Break of 122.75 should target 61.8% projection of 195.86 to 122.75 from 147.95 at 102.76 next. In any case, outlook will remain bearish as long as 147.95 resistance holds.

Daily Pivots: (S1) 180.61; (P) 181.57; (R1) 183.22; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. On the downside, break of 179.45 will resume the correction from 183.90 to 55 D EMA (now at 177.70). On the upside, firm break of 183.99 high will resume larger up trend to 187.36 projection level.

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue. On resumption, next target is 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36, and then 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 137.81; (P) 138.31; (R1) 138.77; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further rise is in favor as long as 136.62 resistance turned support holds. On the upside, firm break of 139.73 will resume whole rise form 123.94. Next target will be 100% projection of 123.94 to 135.74 from 129.27 at 141.07. However, firm break of 136.62 will turn intraday bias back to the downside to extend the consolidation pattern from 139.73.

In the bigger picture, rise from 123.94 is currently seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

Daily Pivots: (S1) 161.14; (P) 161.84; (R1) 162.50; More…

Intraday bias in GBP/JPY remains neutral range trading continues. On the upside, break of 163.91 will bring stronger rise to 166.31 resistance. On the downside, below 160.07 will turn bias to the downside for 159.42 and below.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will remain the favored case as long as 155.57 support holds, even in case of deep pull back.

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) 148.17; (P) 148.57; (R1) 149.03; More

Intraday bias in GBP/JPY remains neutral first. With 149.73 minor resistance intact, deeper decline is still expected. . Below 146.92 will target 61.8% retracement of 139.29 to 152.82 at 144.45. Such decline is seen as a correction and we’d look for strong support from 144.45 to bring rebound. On the upside, break of 149.73 support turned resistance will argue that the pull back is completed and turn bias back to the upside for retesting 152.82 high. However, sustained break of 144.45 will put 139.29 key support in focus.

In the bigger picture, medium term rebound from 122.36 is still expected to resume after corrective pull back from 152.82 completes. Firm break of 38.2% retracement of 196.85 to 122.36 at 150.43 will carry long term bullish implications. In that case, GBP/JPY could target 61.8% retracement at 167.78. However, break of 139.29 will indicate rejection from 150.43 key fibonacci level. And the three wave 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) 131.01; (P) 131.21; (R1) 131.48; More…

GBP/JPY’s rebound today put focus on 132.40 minor resistance. Break there will resume the rise from 129.27. More importantly, that would suggests completion of the corrective fall from 135.74. Intraday bias will be turned back to the upside for 135.74 resistance. on the downside, break of 129.17 will target 61.8% retracement of 123.94 to 135.74 at 128.44.

In the bigger picture, price actions from 122.75 (2016 low) are merely a sideway consolidation pattern, which has completed at 147.96. Larger down trend from 195.86 (2015 high) as well as that from 251.09 (2007 high) are possibly resuming. Break of 122.75 should target 61.8% projection of 195.86 to 122.75 from 147.95 at 102.76 next. In any case, outlook will remain bearish as long as 147.95 resistance holds.

Daily Pivots: (S1) 182.36; (P) 183.12; (R1) 184.03; More…

Intraday bias in GBP/JPY stays mildly on the upside at this point. Current up trend should target 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36. On the downside, break of 182.12 minor support will turn bias back to the downside for deeper pull back first.

In the bigger picture, up trend from 123.94 (2020 low) is extending. Next target is 195.86 (2015 high). For now, medium term outlook will remain bullish as long as 172.11 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 138.73; (P) 139.67; (R1) 140.25; More…

Intraday bias in GBP/JPY remains neutral for the moment as it’s bounded in choppy trading inside range of 138.53/142.79. Price actions from 148.42 are viewed as a consolidation pattern. On the downside, break of 138.53 support will bring deeper decline to 136.44 support and possibly below. However, we’d expect strong support at 50% retracement of 122.36 to 148.42 at 135.39 to bring rebound. On the upside, above 142.79 will turn bias back to the upside for 144.77 and above.

In the bigger picture, price actions from 122.36 medium term bottom are still seen as a corrective pattern. Main focus is on 38.2% retracement of 195.86 to 122.36 at 150.42. Rejection from there will turn the cross into medium term sideway pattern with a test on 122.36 low next. Though, sustained break of 150.42 will extend the rebound towards 61.8% retracement at 167.78.

Daily Pivots: (S1) 156.57; (P) 157.30; (R1) 158.22; More…

GBP/JPY’s break of 161.22 resistance suggests short term bottoming at 155.33. Intraday bias is back on the upside. Sustained trading above 55 day EMA (now at 162.39) will argue that whole correction from 172.11 has completed. Further rally should then be seen back to 169.26/172.11 resistance zone. Nevertheless, rejection by 55 day EMA will retain near term bearishness for another fall through 155.33 at a later stage.

In the bigger picture, as long as 163.02 support turned resistance holds, decline from 172.11 medium term top is expected to continue to 38.2% retracement of 123.94 to 172.11 at 153.70. Sustained break there will raise the change of trend reversal and target 61.8% retracement at 142.34. Nevertheless, break of 163.02 support turned resistance will argue that the decline has completed, and retain medium term bullishness.

Daily Pivots: (S1) 160.77; (P) 161.46; (R1) 162.14; More…

Intraday bias in GBP/JPY stays neutral with focus on 161.80 resistance. Decisive break there, and sustained trading above 55 day EMA (now at 160.99) will argue that whole decline from 172.11 has completed. Bias will be back on the upside for 169.26/172.11 resistance zone. On the downside, break of 155.33 low will resume the fall from 172.11 to 153.70 fibonacci level next.

In the bigger picture, as long as 163.02 support turned resistance holds, decline from 172.11 medium term top is expected to continue to 38.2% retracement of 123.94 to 172.11 at 153.70. Sustained break there will raise the change of trend reversal and target 61.8% retracement at 142.34. Nevertheless, break of 163.02 support turned resistance will argue that the decline has completed, and retain medium term bullishness.

Daily Pivots: (S1) 158.77; (P) 161.19; (R1) 162.41; More…

GBP/JPY’s fall from 168.40 is still in progress and could extend to 61.8% retracement of 150.95 to 168.40 at 157.61. Strong support is expected there to contain downside to bring rebound. On the upside, break of 163.57 minor resistance will turn bias back to the upside for retesting 168.40 high. However, firm break of 157.61 will bring deeper fall to 150.96 structural support.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 150.95 support holds, even in case of deep pull back.

Daily Pivots: (S1) 134.49; (P) 134.75; (R1) 134.94; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 133.85 temporary low. Upside of recovery should be limited by 136.05 resistance to bring fall resumption. Break of 133.85 will extend the decline from 148.87 to retest 131.51 low. Though, break of 136.05 will indicate short term bottoming and bring stronger rebound to 137.78 resistance.

In the bigger picture, medium term fall from 156.59 (2018 high) is still in progress. Break of 131.51 will target 122.36 (2016 low). Structure of such decline is corrective looking so far, arguing that it’s just the second leg of consolidation from 122.36. Thus, we’d expect strong support from 122.36 to contain downside to bring reversal.

Daily Pivots: (S1) 159.59; (P) 160.41; (R1) 161.50; More…

Outlook in GBP/JPY remains unchanged and intraday bias stays neutral. On the downside, break of 155.33 will resume the fall from 172.11 to 153.70 fibonacci level. Nevertheless, considering bullish convergence condition in 4 hour MACD, firm break of 162.32 will argue that such decline has completed, and turn bias back to the upside for 55 day EMA (now at 163.35) and above.

In the bigger picture, as long as 153.02 support turned resistance holds, decline from 172.11 medium term top is expected to continue to 38.2% retracement of 123.94 to 172.11 at 153.70. Sustained break there will raise the change of trend reversal and target 61.8% retracement at 142.34. Nevertheless, break of 153.02 support turned resistance will argue that the decline has completed, and retain medium term bullishness.

Daily Pivots: (S1) 145.91; (P) 146.38; (R1) 146.78; More….

With 145.13 minor support intact, further rise is expected in GBP/JPY to 148.09/42 resistance. Decisive break there will extend whole rally from 122.36 to long term fibonacci level at 150.43 next. On the downside, below 145.13 minor support will turn intraday bias neutral and bring consolidation again before staging another rally.

In the bigger picture, rise from medium term bottom at 122.36 is expected to continue to 38.2% retracement of 196.85 to 122.36 at 150.43. Decisive break there will carry long term bullish implications and pave the way to 61.8% retracement at 167.78. In case the sideway pattern from 148.42 extends, we’d be looking for strong support from 135.58 and 50% retracement of 122.36 to 148.42 at 135.39 to contain downside.

Daily Pivots: (S1) 140.36; (P) 140.76; (R1) 141.31; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 139.88 temporary low. But as long as 142.46 minor resistance intact, , deeper fall is still in favor. Sustained break of 139.29/47 key support zone will carry larger bearish implication and target 135.58 support next. Though, break of 142.46 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 147.35; (P) 148.31; (R1) 149.65; More…

Outlook in GBP/JPY is unchanged that price actions from 152.82 are forming a corrective pattern. On the upside, above 149.45 will turn bias to the upside for 151.92 resistance first. Break there will likely resume rise from 139.29 through 152.82 high. On the downside, below 146.96 will bring deeper fall. But now, we’d expect downside to be contained by 50% retracement of 139.29 to 152.82 at 146.05 to bring up trend resumption eventually.

In the bigger picture, medium term rebound from 122.36 is still expected to resume after corrective pull back from 152.82 completes. Firm break of 38.2% retracement of 196.85 to 122.36 at 150.43 will carry long term bullish implications. In that case, GBP/JPY could target 61.8% retracement at 167.78. However, break of 139.29 will indicate rejection from 150.43 key fibonacci level. And the three wave 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) 145.24; (P) 145.82; (R1) 146.40; More

Intraday bias in GBP/USD stays mildly on the downside as fall from 147.76 would extend to 55 day EMA (now at 143.48). Break there will target 135.58 key support level again. On the upside, though, decisive break of 148.09/42 will pave the way to long term fibonacci level at 150.43.

In the bigger picture, rise from medium term bottom at 122.36 is expected to continue to 38.2% retracement of 196.85 to 122.36 at 150.43. Decisive break there will carry long term bullish implications and pave the way to 61.8% retracement at 167.78. In case the sideway pattern from 148.42 extends, we’d be looking for strong support from 135.58 and 50% retracement of 122.36 to 148.42 at 135.39 to contain downside.

Daily Pivots: (S1) 190.36; (P) 190.76; (R1) 191.11; More…

Intraday bias in GBP/JPY is turned neutral with current retreat, and some consolidations would be seen first. Downside should be contained by 188.90 resistance turned support to bring another rally. On the upside, firm break of 61.8% projection of 178.71 to 188.90 from 185.21 at 191.50 will extend larger up trend to 100% projection at 195.40.

In the bigger picture, up trend from 123.94 (2020 low) is in progress. Medium term outlook will stay bullish as long as 178.32 support holds. Next target is 195.86 long term resistance (2015 high).