Daily Pivots: (S1) 143.04; (P) 143.37; (R1) 143.61; More…

GBP/JPY drew strong support from 4 hour 55 EMA and rebounded. Break of 144.07 suggests rally resumption. Intraday bias is back on the upside for 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break 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.

Daily Pivots: (S1) 143.04; (P) 143.37; (R1) 143.61; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 144.07 continues. Further rise is expected with 142.16 support intact. Break of 144.07 will resume larger up trend to 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias to the downside for pull back towards channel support (now at 139.13).

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.

Daily Pivots: (S1) 143.15; (P) 143.47; (R1) 143.80; More…

Intraday bias in GBP/JPY is turned neutral with a temporary top formed at 144.07. Further rise is expected with 142.16 support intact. Break of 144.07 will resume larger up trend to 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias to the downside for pull back towards channel support (now at 138.99).

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.

Daily Pivots: (S1) 143.11; (P) 143.61; (R1) 143.88; More…

With 142.16 minor support intact, further rise is expected in GBP/JPY, despite some loss of upside momentum. Current rally from 123.94 should target 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias to the downside for pull back towards channel support (now at 138.99).

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.

Daily Pivots: (S1) 142.98; (P) 143.47; (R1) 143.95; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rally from 123.94 should target 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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.

GBP/JPY rose to as high as 143.93 last week and break of 142.71 resistance indicates resumption of whole rise from 123.94. Initial bias stays on the upside this week for 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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.

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) 142.43; (P) 142.85; (R1) 143.50; More…

Intraday bias in GBP/JPY remains on the upside at this point. Rise from 123.94 has just resumed and should target 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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) 141.58; (P) 142.02; (R1) 142.76; More…

GBP/JPY rises to as high as 143.09 so far and break of 142.71 resistance suggests resumption of whole rise from 123.94. Intraday bias remains on the upside for 61.8% projection of 123.94 to 142.71 from 133.03 at 144.62 first. Break will target 147.95 medium term structural resistance. On the downside, below 142.16 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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) 141.58; (P) 142.02; (R1) 142.76; More…

Intraday bias in GBP/JPY remains on the upside at this point. Decisive break of 142.71 resistance will resume whole rise from 123.94 for 147.95 key resistance next. On the downside, though, considering bearish divergence condition in 4 hour MACD, break of 141.26 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) 141.58; (P) 142.02; (R1) 142.76; More…

GBP/JPY’s break of 142.23 suggests rise resumption. Focus is now on 142.71 key resistance. Decisive break there will resume whole rise from 123.94 for 147.95 key resistance next. On the downside, though, considering bearish divergence condition in 4 hour MACD, break of 141.26 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) 141.60; (P) 141.96; (R1) 142.28; More…

Intraday bias in GBP/JPY remains neutral and consolidation could extend. With 140.31 support intact, further rise is still expected. On the upside, firm break of 142.23/71 resistance zone will resume whole rise from 123.94 to 147.95 key resistance next. On the downside, though, 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) 141.60; (P) 141.90; (R1) 142.29; More…

Intraday bias in GBP/JPY remains neutral first and some more consolidation could be seen. Further rise is expected as long as 140.31 support holds. Firm break of 142.23/71 resistance zone will resume whole rise from 123.94 to 147.95 key resistance next. On the downside, though, 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.

GBP/JPY edged higher to 142.30 last week but quickly lost moment and turned sideway. Initial bias is neutral this week first. Further rise is expected as long as 140.31 support holds. Firm break of 142.23/71 resistance zone will resume whole rise from 123.94 to 147.95 key resistance next. On the downside, though, 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.

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 143.73) will dampen this view and could open up further rise back to 195.86 (2015 high).

Daily Pivots: (S1) 141.59; (P) 141.91; (R1) 142.46; More…

GPB/JPY is still bounded in consolidation from 142.23 which could extend. Intraday bias stays neutral first. 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) 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) 141.07; (P) 141.40; (R1) 142.02; More…

GBP/JPY is still bounded in range of 140.31/142.23 and intraday bias remains neutral. 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) 140.41; (P) 140.83; (R1) 141.30; More…

GBP/JPY rebounded strong after drawing support from 140.31 support. But upside is limited below 142.23 resistance so far. Intraday bias remains neutral first. 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) 140.65; (P) 141.42; (R1) 141.88; More…

Focus is now on 140.31 support in GBP/JPY with today’s fall. Decisive break there should confirm short term topping at 142.34. Considering bearish divergence condition in 4 hour MACD, that would also be an early sign of reversal, after rejection by 142.71 key resistance. 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.

GBP/JPY rose further to as high as 142.23 last week but retreated ahead of 142.71 resistance. Initial bias is turned neutral this week first. On the downside, break of 140.31 support will indicate short term topping. Intraday bias will be turned back to the downside for 136.96 support. However, decisive break of 142.71 will resume whole rise from 123.94. Next target is 147.95 resistance.

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.

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 143.73) will dampen this view and could open up further rise back to 195.86 (2015 high).

Daily Pivots: (S1) 141.70; (P) 141.97; (R1) 142.31; More…

Outlook in GBP/JPY is unchanged and further rise is expected with 140.31 support intact. Decisive break of 142.71 will resume whole rally from 123.94 for 147.95 key resistance. Nevertheless, break of 140.31 support will indicate short term topping and turn bias back to the downside.

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.