Daily Pivots: (S1) 160.43; (P) 160.87; (R1) 161.46; More…

GBP/JPY is staying in consolidation from 164.61 and intraday bias remains neutral first. Outlook remains bullish with 158.04 resistance turned support intact, and further rally is expected. On the upside, break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

Daily Pivots: (S1) 159.98; (P) 160.58; (R1) 161.31; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 164.61. But outlook stays bullish with 158.04 resistance turned support intact, and further rally is expected. On the upside, break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

GBP/JPY rose further to 164.61 last week but retreated notably since then Initial bias remains neutral this week some consolidations. But outlook stays bullish with 158.04 resistance turned support intact, and further rally is expected. On the upside, break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

In the longer term picture, as long as 55 month EMA (now at 147.73) holds, we’d still favor more rally to 61.8% retracement of 195.86 to 122.75 at 167.93. Sustained break there will pave the way to 195.86 (2015 high).

Daily Pivots: (S1) 159.30; (P) 160.10; (R1) 160.74; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 164.61 is extending. Outlook stays bullish with 158.04 resistance turned support intact, and further rally is expected. On the upside, break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

Daily Pivots: (S1) 158.92; (P) 160.15; (R1) 161.25; More…

GBP/JPY is staying in consolidation from 164.61 and intraday bias remains neutral first. Outlook stays bullish with 158.04 resistance turned support intact, and further rally is expected. On the upside, break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

Daily Pivots: (S1) 159.87; (P) 161.29; (R1) 162.33; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 164.61. But overall outlook will stay bullish as long as 158.04 resistance turned support holds. On the upside, sustained break of 164.61 will resume larger up trend to long term fibonacci level at 167.93. However, firm break of 158.19 will turn bias to the downside and bring deeper pull back.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

Daily Pivots: (S1) 160.49; (P) 162.56; (R1) 164.35; More…

A temporary top is formed at 164.61 in GBP/JPY, after hitting 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. Intraday bias is turned neutral first. Some consolidations could be seen, but outlook will stay bullish as long as 158.04 resistance turned support holds. On the upside, sustained break of 164.07 target long term fibonacci level at 167.93.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

Daily Pivots: (S1) 160.05; (P) 160.77; (R1) 161.69; More…

Intraday bias in GBP/JPY remains on the upside and outlook is unchanged. Current up trend should target 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. next. On the downside, however, break of 159.01 minor support will tun intraday bias neutral, and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

GBP/JPY’s strong break of 158.19 resistance last week confirmed resumption of larger up trend. Initial bias stays on the upside this week. Next target is 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, however, break of 159.01 minor support will tun intraday bias neutral, and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 150.95 support holds.

In the longer term picture, as long as 55 month EMA (now at 147.73) holds, we’d still favor more rally to 61.8% retracement of 195.86 to 122.75 at 167.93. Sustained break there will pave the way to 195.86 (2015 high).

Daily Pivots: (S1) 160.15; (P) 160.78; (R1) 161.97; More…

GBP/JPY’s rally resumes after brief retreat and intraday bias is back on the upside. Current up trend should target 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, below 159.01 minor support will turn intraday bias neutral again. But downside of retreat should be contained above 156.35 minor support to bring another rally.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 148.94 support holds.

Daily Pivots: (S1) 158.99; (P) 160.05; (R1) 161.06; More…

Intraday bias in GBP/JPY is turned neutral with current retreat and some consolidations could be seen. But downside should be contained above 156.35 minor support to bring another rally. On the upside, above 161.07 will continue larger up trend, and target 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 148.94 support holds.

Daily Pivots: (S1) 158.25; (P) 159.24; (R1) 161.22; More…

Intraday bias in GBP/JPY remains on the upside at this point. Up trend form 123.94 has just resumed. Next target is 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, below 159.25 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93. Sustained break there will be a long term bullish signal. This will now remain the favored case as long as 148.94 support holds.

Daily Pivots: (S1) 156.63; (P) 157.08; (R1) 157.77; More…

GBP/JPY’s firm break of 158.19 resistance confirms resumption of larger up trend from 123.94. Intraday bias stays on the upside. Next target is 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, below 157.48 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 to 122.75 at 167.93. This will now remain the favored case as long as 148.94 support holds.

Daily Pivots: (S1) 156.63; (P) 157.08; (R1) 157.77; More…

Intraday bias in GBP/JPY remains on the upside with focus on 158.19 resistance. Decisive break there will confirm resumption of whole up trend from 123.94. Next target is 61.8% projection of 136.96 to 158.19 from 150.95 at 164.07. On the downside, below 156.32 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 55 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 to 122.75 at 167.93. This will now remain the favored case as long as 148.94 support holds.

Daily Pivots: (S1) 156.17; (P) 156.70; (R1) 157.54; More…

Intraday bias in GBP/JPY remains mildly on the upside at this point. Corrective pattern from 158.19 could have completed with three waves to 150.95 already. Further rise would be seen to 158.04/19 resistance zone. Decisive break there will resume larger up trend. On the downside, below 155.43 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 5 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 to 122.75 at 167.93. This will now remain the favored case as long as 148.94 support holds.

GBP/JPY’s strong rebound from 150.95 accelerated further higher last week. The development suggests that corrective pattern from 158.19 has completed with three waves to 150.95 already. Initial bias remains on the upside this week for 158.04/19 resistance. Decisive break there will resume larger up trend. On the downside, below 155.43 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, up trend from 123.94 (2020 low) should still be in progress, and notable support from 5 week EMA affirms medium term bullishness. Next target is 61.8% retracement of 195.86 to 122.75 at 167.93. This will now remain the favored case as long as 148.94 support holds.

In the longer term picture, as long as 55 month EMA (now at 147.27) holds, we’d still favor more rally to 61.8% retracement of 195.86 to 122.75 at 167.93. But sustained trading below 55 month EMA will at least neutralize medium term bullishness and re-open the chance of revisiting 122.75 low (2016 low).

Daily Pivots: (S1) 155.38; (P) 156.04; (R1) 156.63; More…

Intraday bias in GBP/JPY remains on the upside for the moment. The corrective pattern from 158.19 might have completed with three waves to 150.95. Further rise should be seen to 158.04/19 resistance zone. Firm break there will resume larger up trend. On the downside, below 154.23 minor support will turn bias neutral again.

In the bigger picture, price actions from 158.19 are seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 38.2% retracement of 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.

Daily Pivots: (S1) 154.84; (P) 155.50; (R1) 156.78; More…

GBP/JPY’s rise from 150.95 accelerates to as high as 156.58 so far. Break of 155.20 resistance argues that pull back from 158.04 has completed. Also, the corrective pattern from 158.19 might have finished too. Intraday bias is now on the upside for 158.04/19 resistance. Firm break there will resume larger up trend. On the downside, below 154.23 minor support will turn bias neutral again.

In the bigger picture, price actions from 158.19 are seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 38.2% retracement of 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.

Daily Pivots: (S1) 153.41; (P) 154.05; (R1) 154.86; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. With 155.20 resistance intact, further decline is expected. On the downside, below 152.97 minor support will turn bias back to the downside for 150.95 support first. Break will resume the decline form 158.04, as part of the consolidation from 158.19, to 148.94 support next. However, firm break of 155.20 will bring stronger rise back to 158.04/19 resistance zone.

In the bigger picture, price actions from 158.19 are seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 38.2% retracement of 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.

Daily Pivots: (S1) 153.00; (P) 153.59; (R1) 154.28; More…

Intraday bias in GBP/JPY remains neutral at this point and with 155.20 resistance intact, further decline is expected. On the downside, below 152.97 minor support will turn bias back to the downside for 150.95 support first. Break will resume the decline form 158.04, as part of the consolidation from 158.19, to 148.94 support next. However, firm break of 155.20 will bring stronger rise back to 158.04/19 resistance zone.

In the bigger picture, price actions from 158.19 are seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 38.2% retracement of 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.