Daily Pivots: (S1) 144.68; (P) 145.52; (R1) 146.04; More…

Break of 144.80 minor support suggests that rebound from 143.76 has completed at 146.50 already. Intraday bias in GBP/JPY is turned back to the downside for 143.72 key support level. Decisive break there will be a strong sign of bearish reversal. That is, whole rebound from 131.51 has completed. Deeper fall should then be seen to 141.00 key support for confirmation.

In the bigger picture, focus is staying on 149.98 key resistance. Decisive break there should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Daily Pivots: (S1) 143.57; (P) 144.23; (R1) 144.69; More…

Focus is now on 143.72 key support in GBP/JPY. Decisive break there will indicate near term reversal, after rejection by 149.48 key resistance. In that case, intraday bias will be turned to the downside for 141.00 support first. Meanwhile, rebound from current level will retain bullishness. Decisive break of 149.48 key resistance will carry larger bullish in implications and target 156.58 resistance next.

In the bigger picture, focus is staying on 149.98 key resistance. Decisive break there should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Daily Pivots: (S1) 190.50; (P) 190.84; (R1) 191.31; More….

Intraday bias in GBP/JPY is turned neutral again with current retreat. On the upside, decisive 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. On the downside, however, break of 190.32 minor support will turn bias back to the downside for deeper pullback.

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).

Daily Pivots: (S1) 133.20; (P) 133.88; (R1) 134.39; More…

Intraday bias in GBP/JPY stays neutral at this point. Some more consolidations could be seen below 135.74 temporary top. On the upside, sustained break of 38.2% retracement of 148.87 to 126.54 at 135.07 will extend the rebound from 126.54 to 61.8% retracement at 140.33 next. However, break of 132.17 support will suggest rejection by 135.07 and turned bias back to the downside for retesting 126.54 low.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will extend 116.83 (2011 low).

Daily Pivots: (S1) 153.77; (P) 154.39; (R1) 154.92; More…

Intraday bias in GBP/JPY remains neutral at this point, and further further decline is expected with 155.48 resistance intact. Fall from 158.04 is seen as the third leg of the corrective pattern from 158.19. Break of 152.88 will target 148.94 support next. However, firm break of 155.48 will dampen this view and turn bias back to the upside for 158.04 resistance instead.

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) 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) 142.24; (P) 142.72; (R1) 143.20; More…

GBP/JPY is staying in consolidation from 144.84 temporary top and intraday bias remains neutral first. Further rise is still expected as long as 140.62 support holds. Above 144.84 will extend the rebound from 131.51 to trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 136.18; (P) 137.22; (R1) 137.81; More…

Intraday bias in GBP/JPY remains on the downside at this point. Current fall from 148.87 is in progress for retesting 131.51 low. On the upside, break of 138.73 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, current development suggests that GBP/JPY 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) 133.27; (P) 133.94; (R1) 134.74; More…

A temporary low is in place at 133.03 on loss of downside momentum. Intraday bias in GBP/JPY is turned neutral first. Further decline is expected as long as 136.46 resistance holds. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Break of 133.03 will resume the fall from 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. Nevertheless, firm break of 136.46 will dampen this bearish view and turn bias back to the upside for rebound.

In the bigger picture, rise from 123.94 is seen only 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) 140.93; (P) 141.41; (R1) 142.20; More…

GBP/JPY’s rise accelerates to as high as 143.51 so far. Intraday bias stays on the upside. Break of 143.93 resistance will pave the way back to 149.48 key resistance next. On the downside, below 140.62 minor support will turn intraday bias neutral again. But further rally is expected as long as 137.35 minor support holds.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.

Daily Pivots: (S1) 135.51; (P) 135.88; (R1) 136.28; More…

GBP/JPY’s rebound from 133.03 resumes by taking out 137.83 resistance. Intraday bias is back on the upside for 100% projection of 133.03 to 137.83 from 134.40 at 139.20 first. Break will target 100% projection at 142.16, which is close to 142.71 high. On the downside, however, below 136.60 minor support will turn intraday bias neutral again.

In the bigger picture, rise from 123.94 is seen only 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.

GBP/JPY gyrated higher last week even though upside momentum wasn’t too convincing as seen in 4 hour MACD. Initial bias stays on the upside this week for retest 142.71 high. On the downside, through, break of 135.87 minor support will argue that rebound from 133.03 has completed. Intraday bias will be turned back to the downside for retesting this support first.

In the bigger picture, rise from 123.94 is seen only 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.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.42) will dampen this view and could open up further rise back to 195.86 (2015 high).

Daily Pivots: (S1) 154.88; (P) 155.47; (R1) 155.80; More…

GBP/JPY’s break of 154.85 support argues that rebound from 148.94 has completed at 157.74, ahead of 158.19 high. Fall from 157.74 is seen as the third leg of the consolidative pattern from 158.19. Intraday bias is back on the downside. Sustained break of 55 day EMA (now at 154.11) will target 148.94 support next. For now, risk will stay on the downside as long as 157.74 resistance holds, in case of recovery.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

Daily Pivots: (S1) 143.51; (P) 144.18; (R1) 145.27; More…

Intraday bias in GBP/JPY remains on the upside as rise from 131.51 is in progress for trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, below 143.39 minor support will turn intraday bias neutral first and bring consolidations. But further rise will remain in favor as long as 139.43 resistance turned support holds.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 186.51; (P) 187.02; (R1) 187.42; More…

Intraday bias in GBP/JPY stays neutral for consolidation below 188.63. While deeper retreat cannot be ruled out, near term outlook will stay bullish as long as 184.44 support holds. On the upside, break of 188.63 will resume larger up trend.

In the bigger picture, as long as 184.44 support holds, larger up trend from 123.94 (202 low) should still be in progress, next target is 195.86 (2015 high). However, firm break of 184.44 will now argue that a medium term top is formed, possibly in bearish divergence condition in D MACD, and bring deeper fall back to 178.02 support.

Daily Pivots: (S1) 168.88; (P) 169.64; (R1) 170.14; More…

Intraday bias in GBP/JPY stays neutral for the moment as consolidation from 172.30 is extending. Downside should be contained by 167.95 resistance turned support to bring another rally. On the upside, break of 172.30 will resume larger up trend to 100% projection of 148.93 to 172.11 from 155.33 at 178.51. Nevertheless, firm break of 167.95 should confirm short term topping, and turn bias back to the downside for deeper pull back to 165.40 support instead.

In the bigger picture, based on current momentum, up trend from 123.94 (2020 low) is likely ready to resume. Next target is 161.8% projection of 122.75 (2016 low) to 156.59 (2018 high) from 123.94 at 178.69. This will now remain the favored case as long as 165.40 support holds, in case of retreat.

Daily Pivots: (S1) 134.29; (P) 135.32; (R1) 135.92; More…

GBP/JPY’s recovery lost momentum after failing to sustain above 4 hour 55 EMA. Intraday bias is turned neutral first. On the upside, break of 136.34 minor resistance will extend the rebound from 133.50 to retest 139.73 high. On the downside, sustained break of 55 day EMA (now at 134.40) will argue that whole rebound from 123.94 has completed. Fall from 139.73 should then target 129.27 support to confirm this bearish case.

In the bigger picture, we’re still seeing price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. 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) 138.81; (P) 139.34; (R1) 139.74; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, break of 140.31 will resume the rebound from 133.03 for retesting 142.71 resistance next. On the downside, break of 137.19 minor support will turn bias back to the downside for 134.40 support instead.

In the bigger picture, rise from 123.94 is 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) 181.89; (P) 182.85; (R1) 183.37; More…

Intraday bias in GBP/JPY is turned neutral first with current retreat. Outlook is unchanged that pull back from 186.75 should have completed 178.02 already. Above 183.79 will resume the rebound from 178.02 to retest 186.75 high. On the downside, however, break of 181.23 will dampen this view, and turn bias back to the downside for 178.02 instead.

In the bigger picture, fall from 186.75 is currently seen as a corrective move only. As long as 176.29 support holds, larger up trend from 123.94 (202 low) should still be in progress. Break of 186.75 will target 195.86 (2015 high). Nevertheless, firm break of 176.29 will confirm medium term topping, and bring lengthier and deeper consolidations.

Daily Pivots: (S1) 140.90; (P) 141.61; (R1) 142.15; More…

Intraday bias in GBP/JPY remains neutral first at it failed to break through 142.23 resistance decisively. But in any case, with 140.31 intact, further rise is in favor. Firm break of 142.23/71 resistance zone will resume whole rise from 123.94 to 147.95 key resistance next. On the downside, through, considering bearish divergence condition in 4 hour MACD, break of 140.31 will confirm short term topping at 142.34, and rejection by 142.71. Intraday will will be turned back to the downside for 139.96 support next.

In the bigger picture, rise from 123.94 is 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.