Daily Pivots: (S1) 133.66; (P) 134.86; (R1) 135.91; More…

Intraday bias in GBP/JPY remains on the downside as fall from 139.73 short term top is in progress. Sustained trading below 55 day EMA (now at 134.32) 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. On the upside, though, above 136.04 minor resistance will turn bias back to the upside for retesting 139.73 instead.

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.

GBP/JPY’s decline last week suggests short term topping at 139.73. Further fall is in favor this week as long as 136.23 minor resistance holds. Sustained trading below 55 day EMA (now at 134.32) 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. On the upside, though, above 136.23 minor resistance will turn bias back to the upside for retesting 139.73 instead.

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.

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

Daily Pivots: (S1) 133.88; (P) 135.24; (R1) 136.01; More…

Intraday bias in GBP/JPY remains on the downside at this point. Sustained trading below 55 day EMA (now at 134.34) will argue that whole rebound form 123.94 has completed. Fall from 139.73 should then target 129.27 support to confirm this case. On the upside, though, above 136.23 minor resistance will turn bias back to the upside for retesting 139.73 instead.

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) 136.23; (P) 136.83; (R1) 137.17; More…

GBP/JPY’s break of 135.95 minor support suggests short term topping at 139.73. Intraday bias is back on the downside for 55 day EMA (now at 134.34). Firm break there will raise the chance that whole rebound from 123.94 support has completed. Deeper fall would be seen to 129.27 support to confirm On the upside, above 137.42 minor resistance will turn bias back to the upside for retesting 139.73 instead.

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) 136.18; (P) 137.21; (R1) 138.19; More…

Intraday bias in GBP/JPY remains neutral first. Another rise is expected as long as 135.95 support holds. Break of 139.73 will extend the rise from 123.94 to 100% projection of 123.94 to 135.74 from 129.27 at 141.07. However, firm break of 135.95 will indicate short term topping and turn bias to the downside for 55 day EMA (now at 134.31).

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) 137.08; (P) 138.33 (R1) 139.23; More…

Intraday bias in GBP/JPY is turned neutral with today’s retreat. Another rise is expected as long as 135.95 support holds. Break of 139.73 will extend the rise from 123.94 to 100% projection of 123.94 to 135.74 from 129.27 at 141.07. However, firm break of 135.95 will indicate short term topping and turn bias to the downside for 55 day EMA (now at 134.19).

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) 137.50; (P) 138.62; (R1) 139.96; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current rally from 123.94 should target 100% projection of 123.94 to 135.74 from 129.27 at 141.07. Firm break there will target 147.95 key resistance. On the downside, break of 135.95 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

GBP/JPY’s rise from 123.94 resumed last week by breaking 135.74 resistance and accelerated to as high as 139.73. Initial bias remains on the upside this week for 100% projection of 123.94 to 135.74 from 129.27 at 141.07. Firm break there will target 147.95 key resistance. On the downside, break of 135.95 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

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

Daily Pivots: (S1) 136.33; (P) 137.08; (R1) 138.19; More…

GBP/JPY’s rally resumed after brief consolidation and intraday bias is back on the upside. Current rise from 123.94 should target 100% projection of 123.94 to 135.74 from 129.27 at 141.07 next. On the downside, break of 135.95 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

Daily Pivots: (S1) 136.33; (P) 136.86; (R1) 137.46; More…

A temporary top is formed at 137.39 in GBP/JPY with 4 hour MACD crossed below signal line. Intraday bias is turned neutral for some consolidations first. On the upside, break of 137.39 will extend the whole rebound from 123.94 to 100% projection of 123.94 to 135.74 from 129.27 at 141.07. Though, break of 134.41 will turn bias back to the downside for 129.27 support instead.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

Daily Pivots: (S1) 134.90; (P) 135.71; (R1) 137.20; More…

GBP/JPY’s rally is still in progress and met 61.8% projection of 123.94 to 135.74 from 129.27 at 136.56 already. There is no sign of topping yet. Intraday bias stays on the upside for 100% projection at 141.07. On the downside, below 135.99 minor support will turn intraday bias neutral first.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

Daily Pivots: (S1) 133.23; (P) 133.89; (R1) 135.00; More…

GBP/JPY’s rally accelerates to as high as 136.25 so far. Break of 135.74 resistance confirms resumption of whole rise from 123.94. Intraday bias stays on the upside for 61.8% projection of 123.94 to 135.74 from 129.27 at 136.56. Break there will target 100% projection at 141.07. On the downside, below 134.37 minor support will turn intraday bias neutral first.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

Daily Pivots: (S1) 133.23; (P) 133.89; (R1) 135.00; More…

GBP/JPY’s rise from 129.27 continues today and intraday bias stays on the upside for 135.74 resistance. Break will will resume whole rise from 123.94 for 61.8% projection of 123.94 to 135.74 from 129.27 at 136.56. On the downside, below 131.77 minor support will turn bias to the downside for 129.27 support instead.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

Daily Pivots: (S1) 132.15; (P) 132.80; (R1) 133.82; More…

Intraday bias in GBP/JPY remains on the upside for 135.74 resistance. Break there will resume whole rise from 123.94 for 61.8% projection of 123.94 to 135.74 from 129.27 at 136.56. On the downside, below 131.63 minor support will turn bias to the downside for 129.27 support instead.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

GBP/JPY’s rebound form 129.27 extended last week and edged higher to 133.46. Initial bias is now on the upside this week for 135.74 resistance. Break there will resume whole rise from 123.94 for 61.8% projection of 123.94 to 135.74 from 129.27 at 136.56. On the downside, below 131.63 minor support will turn bias to the downside for 129.27 support instead.

In the bigger picture, overall, price actions from 122.75 (2016 low) are seen as a sideway consolidation pattern. Current development suggests that it might extend with another rising leg. But still, an eventual downside break out is expected as long as 147.95 resistance holds. Firm break of 122.75 will resume larger down trend from 195.86 (2015 high).

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.

Daily Pivots: (S1) 132.00; (P) 132.44; (R1) 133.06; More…

Intraday bias in GBP/JPY remains neutral at this point. With 130.67 minor support intact, further rise is in favor. Correction from 135.74 is possibly completed and from 123.94 might be resuming. Above 133.04 will target 135.74 resistance next. On the downside, though, break of 130.67 support will turn intraday bias to the downside for 61.8% retracement of 123.94 to 135.74 at 128.44.

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.

Daily Pivots: (S1) 131.48; (P) 132.25; (R1) 132.85; More…

GBP/JPY’s rebound lost momentum after hitting 133.03 and intraday bias is turned neutral first. Correction from 135.74 is possibly completed and from 123.94 might be resuming. Above 133.04 will target 135.74 resistance next. On the downside, though, break of 130.67 support will turn intraday bias to the downside for 61.8% retracement of 123.94 to 135.74 at 128.44.

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.

Daily Pivots: (S1) 131.63; (P) 132.34; (R1) 133.40; More…

Intraday bias in GBP/JPY remains on the upside at this point. Correction from 135.74 is possibly completed and from 123.94 might be resuming. Further rise would be seen to 135.74 resistance next. On the downside, though, break of 130.67 support will turn intraday bias to the downside for 61.8% retracement of 123.94 to 135.74 at 128.44.

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.

Daily Pivots: (S1) 131.01; (P) 131.21; (R1) 131.48; More…

GBP/JPY’s break of 132.50 resistance suggests that rebound from 129.27 is resuming. Also, correction from 135.74 is possibly completed and rise form 123.94 might be resuming. Intraday bias is back on the upside for 135.74 resistance next. On the downside, though, break of 130.67 support will turn intraday bias to the downside for 61.8% retracement of 123.94 to 135.74 at 128.44.

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.