GBP/JPY rose further to 150.39 last week but formed a temporary top and retreated. Initial bias is neutral this week for some consolidations first. Further rise is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 143.43).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 156.59 resistance (2018 high), Sustained break there should confirm long term bullish trend reversal. 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.

In the longer term picture, the strong break of 55 months EMA (now at 143.95) is a early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high).

Daily Pivots: (S1) 148.08; (P) 149.27; (R1) 150.05; More…

Intraday bias in GBP/JPY is turned neutral with current deep retreat. Some consolidations could be seen below 150.39 temporary top. Further rise is still expected as long as 127.48 resistance turned support holds. Break of 129.96 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 156.59 resistance (2018 high), Sustained break there should confirm long term bullish trend reversal. 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) 148.67; (P) 149.40; (R1) 150.39; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current up trend from 123.94 should now target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 147.52 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 156.59 resistance (2018 high), Sustained break there should confirm long term bullish trend reversal. 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) 147.97; (P) 148.29; (R1) 148.91; More…

GBP/JPY’s rally accelerates to as high as 150.95 so far, taking out 147.95 medium term resistance without much hesitation. Intraday bias stays on the upside. Current up trend from 123.94 should now target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 147.52 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 156.59 resistance (2018 high), Sustained break there should confirm long term bullish trend reversal. 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) 147.43; (P) 147.87; (R1) 148.18; More…

Intraday bias in GBP/JPY stays on the upside at this point. Sustained break of 147.95 resistance will extend the up trend from 123.94 to 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and turn bias to the downside for deeper pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 147.23; (P) 147.70; (R1) 148.10; More…

Intraday bias in GBP/JPY remains on the upside at this point. Sustained break of 147.95 resistance will extend the up trend from 123.94 to 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and turn bias to the downside for deeper pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

GBP/JPY’s up trend extended to as high as 148.13 last week and hit 147.95 structural resistance already. Further rise is expected this week as long as 146.39 support holds. Sustained break of 147.95 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and turn bias to the downside for deeper pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

In the longer term picture, the strong break of 55 months EMA (now at 143.95) is a early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high).

Daily Pivots: (S1) 146.88; (P) 147.34; (R1) 148.12; More…

GBP/JPY’s rally resumes after brief retreat and intraday bias is back on the upside. Sustained break of 147.95 structural resistance will carry larger bullish implications. Up trend from 123.94 should then target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, though, break of 146.39 minor support will indicate short term topping, and turn bias to the downside for pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 146.28; (P) 146.92; (R1) 147.43; More…

A temporary top should be in place at 147.54 with 4 hour MACD crossed below signal line. Intraday bias in GBP/JPY is turned neutral for some consolidations first. Downside of retreat should be contained by 144.47 support to bring another rally. On the upside, sustained break of 149.75 structural resistance will carry larger bullish implications, and target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 146.73; (P) 147.06; (R1) 147.71; More…

GBP/JPY’s rally is still in progress and intraday bias remains on the upside for 147.95 structural resistance. Sustained break there will carry larger bullish implications. Rise from 123.94 should then target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 146.60 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 145.71; (P) 146.18; (R1) 147.00; More…

Intraday bias in GBP/JPY remains on the upside for 147.95 structural resistance. Sustained break there will carry larger bullish implications. Rise from 123.94 should then target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 145.90 minor support will turn intraday bias and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 144.74; (P) 145.11; (R1) 145.72; More…

GBP/JPY rises to as high as 146.07 so far today and intraday bias stays on the upside. Current up trend from 123.94 should target 147.95 structural resistance. Sustained break there will carry larger bullish implications. On the downside, break of 145.04 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

GBP/JPY’s up trend continued last week and break of channel resistance suggests upside acceleration. Initial bias stays on the upside this week. Rise form 123.94 should now target 147.95 structural resistance. Sustained break there will carry larger bullish implications. On the downside, break of 144.47 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

In the longer term picture, price actions from 122.75 (2016 low) is still seen as a sideway pattern for now. Sustained break of 55 month EMA (now at 143.73) will carry long term bullish implications. But still, firm break of 156.59 resistance is needed to confirm the start of an up trend. Otherwise, overall outlook will be neutral at best first.

Daily Pivots: (S1) 144.55; (P) 144.73; (R1) 144.88; More…

No change in GBP/JPY’s outlook and further rise is expected with 144.01 minor support intact. Current up trend from 133.03 should target 147.95 key medium term structural resistance. Sustained break there will carry larger bullish implications. On the downside, however, break of 144.01 minor support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 144.38; (P) 144.72; (R1) 145.07; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current up trend from 133.03 should target 147.95 key medium term structural resistance. Sustained break there will carry larger bullish implications. On the downside, however, break of 144.01 minor support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 144.14; (P) 144.41; (R1) 144.77; More…

With 147.81 support intact, further rise is expected GBP/JPY. Current up trend from 133.03 should target 147.95 key medium term structural resistance. Sustained break there will carry larger bullish implications. On the downside, however, break of 142.81 support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 144.36; (P) 144.65; (R1) 144.88; More…

Further rise is expected in GBP/JPY as long as 147.81 support holds. Current up trend from 133.03 should target 147.95 key medium term structural resistance. Sustained break there will carry larger bullish implications. On the downside, however, break of 142.81 support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 144.34; (P) 144.62; (R1) 145.04; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current rise from 133.03 should target 147.95 key medium term structural resistance. Sustained break there will carry larger bullish implications. On the downside, however, break of 142.81 support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

GBP/JPY’s up trend continued last week and met 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62. There is no sign of topping yet and initial bias stays on the upside this week. Next target is 147.95 medium term structural resistance. On the downside, however, break of 142.81 support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

In the longer term picture, price actions from 122.75 (2016 low) is still seen as a sideway pattern for now. Sustained break of 55 month EMA (now at 143.73) will carry long term bullish implications. But still, firm break of 156.59 resistance is needed to confirm the start of an up trend. Otherwise, overall outlook will be neutral at best first.

Daily Pivots: (S1) 143.31; (P) 143.84; (R1) 144.83; More…

Intraday bias in GBP/JPY remains on the upside at this point. Decisive break of 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 will target 147.95 medium term structural resistance. On the downside, however, break of 142.81 support would now indicate short term topping, and turn bias to the downside for deeper pull back.

In the bigger picture, rise of 123.94 is still as the third leg of the sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.