Daily Pivots: (S1) 158.92; (P) 159.61; (R1) 160.82; More…

Intraday bias in GBP/JPY remains neutral at this point. On the downside, break of 155.57 will extend the correction towards 150.96 key structural support. Nevertheless, on the upside, firm break of 162.16 will indicate that the correction has completed, and bring retest of 168.40 high next.

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. However, firm break of 150.95 will indicate rejection by 167.93, and bearish trend reversal.

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.

Daily Pivots: (S1) 156.04; (P) 156.52; (R1) 156.96; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the downside, break of 155.11 resistance should confirm rejection by 158.19 resistance. Intraday bias will be turned to the downside for 152.88 support, to extend the corrective pattern from 158.19 with another falling leg. However, on the upside, sustained break of 158.19 will resume larger up trend.

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 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.

GBP/JPY’s fall from 186.75 extended lower last week but recovered after forming a temporary low at 180.78. Initial bias remains neutral this week for consolidations. But further decline is expected as long as 183.34 resistance holds. Break of 180.78 will target to 176.29 support next.

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.

In the longer term picture, rise from 122.75 (2016 low) in still in progress but started losing upside momentum as seen in W MACD. Further rise will remain in favor, though, as long as 176.29 support holds, to retest 195.86 (2015 high).

Daily Pivots: (S1) 153.76; (P) 154.03; (R1) 154.44; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 154.40 temporary top. Outlook will remain bullish as long as 151.24 support holds. On the upside, above 154.40 will resume the larger up trend 156.59 key resistance, and then 61.8% projection of 133.03 to 153.39 from 149.03 at 161.61. However, break of 151.24 will suggest that deeper correction is underway, and turn bias back to the downside for 149.03 support first.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 at 167.93. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 181.10; (P) 181.64; (R1) 182.70; More…

Intraday bias in GBP/JPY is turned neutral with current recovery. On the upside, decisive break of 183.99 high will resume larger up trend. Nevertheless, break of 180.41 will turn bias to the downside, to bring another fall to extend the corrective pattern from 183.99.

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue through 183.99 at a later stage, towards 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 142.87; (P) 143.52; (R1) 143.95; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 144.84 is in progress. Above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 147.17) to limit upside, at least on 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) 142.56; (P) 142.80; (R1) 143.18; More…

GBP/JPY is still staying in range of 140.62/144.84 and intraday bias remains neutral first. Rebound from 131.51 could still extend higher. But we’d expect strong resistance from trend line (now at 146.64) to limit upside, at least on 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) 147.01; (P) 147.70; (R1) 148.39; More…

Intraday bias in GBP/JPY remains neutral first and some more consolidations could be seen. On the upside, decisive break of 149.48 key resistance will carry larger bullish implication and target 156.58 resistance next. On the downside, though, break of 143.72 support will indicate near term reversal and turn outlook bearish for 141.00 support.

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 in 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 149.48 will pave the way to 156.59 resistance and above. However, firm break of 141.00 support will dampen this view and turn focus back to 131.51 low instead.

GBP/JPY’s sharp decline last week dampened our original bullish view. Initial bias stays on the downside this week. Fall from 158.19 would target 148.93 key support level. On the upside, though, break of 156.22 resistance will revive near term bullishness and target 158.19 high instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

In the longer term picture, GBP/JPY could have set up a long term up trend already with break of 156.69 resistance, and the stay above 55 month EMA. Current rise from 122.75 could target a test on 195.86 (2015 high).

Daily Pivots: (S1) 153.57; (P) 154.02; (R1) 154.90; More…

GBP/JPY’s rise from 148.94 continues today and hit as high as 154.43 so far. Current development suggest that correction from 158.19 is complete after defending 148.93 support. Intraday bias stays on the upside for 154.70 resistance. Firm break there should confirm this bullish case and target a test on 158.19 high. Nevertheless, break of 153.02 minor support will mix up the near term outlook and turn intraday bias neutral again first.

In the bigger picture, strong rebound from 148.93 key structural support will retain 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) 186.03; (P) 186.77; (R1) 187.35; More…

Intraday bias in GBP/JPY remains neutral first. Price actions from 188.63 short term top is seen as a near term consolidation pattern for now. As long as 184.44 support holds, further rally is expected. Decisive 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) 147.74; (P) 148.44; (R1) 149.15; More….

While GBP/JPY’s corrective rise from 144.97 might extend, upside should be limited by 150.92 (50% retracement of 156.59 to 144.97 at 150.78) to bring fall resumption eventually. Below 146.34 minor support will suggest that the recovery has completed. Intraday bias will then be turned back to the downside for 144.97 first. Break will extend the decline from 156.59 to 143.51 medium term fibonacci level next.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 163.78; (P) 164.25; (R1) 164.84; More…

GBP/JPY’s break of 165.26 minor resistance suggests that consolidation from 168.67 has completed at 160.37. Intraday bias is back on the upside for retesting 168.67 high. Firm break there will resume larger up trend. On the downside, below 163.54 minor support will dampen this bullish view and turn bias back to the downside for 160.37 support instead.

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 155.57 support holds, even in case of deep pull back.

Daily Pivots: (S1) 135.47; (P) 136.46; (R1) 136.96; More…

GBP/JPY is losing some upside momentum as seen in 4 hour MACD. But rebound from 133.03 is still in favor to continue with 135.05 minor support intact, towards retesting 142.71 high. On the downside, though, break of 135.05 will likely resume the fall from 142.71 through 133.03 to 61.8% retracement of 123.94 to 142.71 at 131.11.

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) 132.92; (P) 133.81; (R1) 134.86; More…

Intraday bias in GBP/JPY is turned neutral with 4 hour MACD crossed below signal line. Another rise could still be seen, but upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring fall resumption. On the downside, break of 129.85 minor support will bring retest of 123.94 low first. However, sustained break of 136.92 will raise the chance of trend reversal and turn focus to 144.95 resistance.

In the bigger picture, current development suggests that 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) 156.07; (P) 156.39; (R1) 156.70; More…

GBP/JPY is staying in consolidation from 157.74 and intraday bias remains neutral. Overall, further rise is still expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

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) 192.29; (P) 192.91; (R1) 194.02; More…..

Intraday bias in GBP/JPY remains on the upside for the moment. Current up trend should target 61.8% projection of 178.32 to 191.29 from 187.94 at 195.95, which is close to 195.86 long term resistance. On the downside, below 191.78 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, current rally is part of the uptrend from 123.94 (2020 low), and is in progress for long term resistance (2015 high). Break of 187.94 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish in case of retreat.

Daily Pivots: (S1) 131.18; (P) 131.57; (R1) 131.90; More…

Intraday bias in GBP/JPY remains neutral for the moment. As long as 133.18 resistance holds, further decline remains in favor. Break of 129.27 will target 61.8% retracement of 123.94 to 135.74 at 128.44. Firm break there will target a test on 123.94 low. However, break of 133.18 will invalidate our bearish view and turn bias back to the upside for 135.74 resistance.

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.