Daily Pivots: (S1) 134.62; (P) 135.28; (R1) 135.92; More…

Intraday bias in GBP/JPY remains neutral at this point. As long as 137.83 resistance holds, further decline is in favor. Below 134.40 will target 133.03 support first. Break there will resume larger fall from 142.71 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) 134.62; (P) 135.28; (R1) 135.92; More…

Intraday bias in GBP/JPY remains neutral for now. As long as 137.83 resistance holds, further decline is in favor. Below 134.40 will target 133.03 support first. Break there will resume larger fall from 142.71 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.

GBP/JPY dropped to 134.40 last week but quickly recovered. Initial bias is neutral this week first. As long as 137.83 resistance holds, further decline is in favor. Below 134.40 will target 133.03 support first. Break there will resume larger fall from 142.71 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.

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

Daily Pivots: (S1) 134.62; (P) 135.28; (R1) 135.92; More…

Intraday bias in GBP/JPY remains on the downside at this point, for 133.03 support. Break there will confirm resumption of whole decline from 142.71. Next target will be 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, 136.55 minor resistance will turn bias back to the upside for 137.83 resistance instead.

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) 134.79; (P) 135.54; (R1) 136.19; More…

Intraday bias in GBP/JPY remains on the downside for 133.03 support first. Break there will confirm resumption of whole decline from 142.71. Next target will be 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, 136.55 minor resistance will turn bias back to the upside for 137.83 resistance instead.

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) 136.10; (P) 136.35; (R1) 136.54; More…

GBP/JPY’s break of 135.38 support suggests that recovery from 133.03 has completed. Corrective fall from 142.71 is possibly resume to resume. Intraday bias is turned back to the downside for 133.03 support first. Break will confirm and target 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, 136.5 minor resistance will turn bias back to the upside for 137.83 resistance instead.

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) 136.10; (P) 136.35; (R1) 136.54; More…

Intraday bias in GBP/JPY remains neutral first. On the upside, break of 137.83 will extend the rebound from 133.03. Intraday bias will be turned back to the upside for retesting 142.71 high. On the downside, break of 135.05 will argue that decline from 142.71 is resuming. intraday bias will be turned back to the downside for 133.03, and then 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) 136.19; (P) 136.63; (R1) 136.96; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. On the upside, break of 137.83 will extend the rebound from 133.03. Intraday bias will be turned back to the upside for retesting 142.71 high. On the downside, break of 135.05 will argue that decline from 142.71 is resuming. intraday bias will be turned back to the downside for 133.03, and then 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) 136.20; (P) 136.76; (R1) 137.15; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, break of 137.83 will extend the rebound from 133.03. Intraday bias will be turned back to the upside for retesting 142.71 high. On the downside, break of 135.05 will argue that decline from 142.71 is resuming. intraday bias will be turned back to the downside for 133.03, and then 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.

GBP/JPY was bounded in range of 135.38/137.83 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, break of 137.83 will extend the rebound from 133.03. Intraday bias will be turned back to the upside for retesting 142.71 high. On the downside, break of 135.05 will argue that decline from 142.71 is resuming. intraday bias will be turned back to the downside for 133.03, and then 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.

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

Daily Pivots: (S1) 136.95; (P) 137.27; (R1) 137.57; More…

GBP/JPY is staying in range of 135.38/137.83 and intraday bias remains neutral. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.36 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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) 136.74; (P) 137.21; (R1) 137.94; More…

Intraday bias in GBP/JPY remains at this point. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.05 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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) 136.30; (P) 136.66; (R1) 136.99; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.05 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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) 135.83; (P) 136.54; (R1) 137.23; More…

GBP/JPY is staying in range of 135.05/137.83 and intraday bias remains neutral. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.05 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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) 135.57; (P) 136.00; (R1) 136.49; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.05 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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.

GBP/JPY edged lower to 135.38 last week but quickly recovered. Initial bias stays neutral this week first. On the upside, above 137.83 will resume the rebound from 133.03 to retest 142.71 high. On the downside, firm break of 135.05 support will suggest that rebound from 133.03 has completed. Also, in this case fall from 142.71 is resuming. Intraday bias will be turned back to the downside for 133.03, and then 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.

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) 135.47; (P) 136.33; (R1) 136.87; More…

GBP/JPY is still holding above 135.66 minor support. Intraday bias remains neutral and further rise is still in favor. On the upside, above 137.83 will resume the rebound from 133.03 for retesting 142.71 high. On the downside, though, break of 135.66 should indicate completion of the rebound and bring retest of 133.03 support instead.

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) 135.89; (P) 136.61; (R1) 137.54; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, above 137.83 will resume the rebound from 133.03 for retesting 142.71 high. On the downside, though, break of 135.66 should indicate completion of the rebound and bring retest of 133.03 support instead.

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) 135.97; (P) 136.87; (R1) 137.37; More…

GBP/JPY rebounded strongly after a brief breach or 135.87 support to 135.66. Intraday bias is turned neutral again first. On the upside, above 137.83 will resume the rebound from 133.03 for retesting 142.71 high. On the downside, though, break of 135.66 should indicate completion of the rebound and bring retest of 133.03 support instead.

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) 135.97; (P) 136.87; (R1) 137.37; More…

GBP/JPY’s break of 135.87 support suggests that corrective rebound from 133.03 has completed at 137.83 already. Intraday bias is turned back to the downside for 133.03 first. Break there will resume the decline form 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 137.83 will turn bias back to the upside for retesting 142.71 high instead.

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.