Daily Pivots: (S1) 137.23; (P) 137.61; (R1) 138.01; More…

Further rise is still in favor in GBP/JPY with 135.87 support intact, despite loss of upside momentum. Current rebound from 133.03 could target a test on 142.71 high. On the downside, however, break of 135.87 minor support will argue that rebound from 133.03 has completed. Intraday bias will be turned back to the downside for retesting this support first.

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) 137.16; (P) 137.50; (R1) 138.20; More…

Despite relatively weak upside momentum as seen in 4 hour MACD, further rise is still in favor in GBP/JPY as long as 135.87 minor support holds. Current rebound from 133.03 could target a test on 142.71 high. On the downside, however, break of 135.87 minor support will argue that rebound from 133.03 has completed. Intraday bias will be turned back to the downside for retesting this support first.

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 gyrated higher last week even though upside momentum wasn’t too convincing as seen in 4 hour MACD. Initial bias stays on the upside this week for retest 142.71 high. On the downside, through, break of 135.87 minor support will argue that rebound from 133.03 has completed. Intraday bias will be turned back to the downside for retesting this support first.

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) 136.74; (P) 137.08; (R1) 137.46; More…

Further rise is still in favor in GBP/JPY with 135.05 minor support intact. Rebound from 133.03 would target a test on 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) 136.21; (P) 136.61; (R1) 137.30; More…

Intraday bias in GBP/JPY remains mildly on the upside at this point. Rebound form 133.03 is still in progress and would target at test on 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) 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) 136.42; (P) 136.89; (R1) 137.74; More…

Intraday bias in GBP/JPY remains on the upside at this point. Rebound from 133.03 would target a test on 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) 135.43; (P) 135.91; (R1) 136.76; More…

GBP/JPY’s rebound from 133.03 resumes by taking out 137.00 temporary top. Intraday bias is back on the upside for 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) 135.43; (P) 135.91; (R1) 136.76; More…

Intraday bias in GBP/JPY stays neutral for the moment. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. Though, break of 137.00 will extend the rebound towards 142.71 resistance.

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 recovered to 137.00 last week but failed to extend gain from there. Initial bias is neutral this week first. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. Though, break of 137.00 will extend the rebound towards 142.71 resistance.

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) 135.44; (P) 136.00; (R1) 136.80; More…

GBP/JPY recovered to 137.00 but couldn’t sustain above 136.46 resistance and retreated. Intraday bias stays neutral first. On the upside, break of 137.00 should now indicate short term bottoming and turn bias back to the upside for stronger rebound back to retest 142.71. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next.

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) 135.44; (P) 136.00; (R1) 136.80; More…

Intraday bias in GBP/JPY remains neutral with focus on 136.46 resistance. Decisive break there will indicate short term bottoming and turn bias back to the upside for stronger rebound back to retest 142.71. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next.

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) 135.43; (P) 135.85; (R1) 136.27; More…

GBP/JPY’s rebound from 133.03 is still in progress but fails to take out 136.46 resistance so far. Intraday bias remains neutral and further decline is in favor. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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) 134.44; (P) 135.33; (R1) 136.30; More…

Intraday bias in GBP/JPY stays neutral first and further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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) 133.96; (P) 134.39; (R1) 134.95; More…

Intraday bias in GBP/JPY remains neutral for some more consolidations. Further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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 133.03 last week but turned sideway since then. Initial bias remains neutral this week for some consolidations. Further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

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) 133.74; (P) 134.21; (R1) 134.80; More…

Intraday bias in GBP/JPY remains neutral at this point and some consolidations could be seen. But further decline is expected as long as 136.46 resistance holds. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Break of 133.03 will resume the fall from 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. Nevertheless, firm break of 136.46 will dampen this bearish view and turn bias back to the upside for rebound.

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) 133.27; (P) 133.94; (R1) 134.74; More…

A temporary low is in place at 133.03 on loss of downside momentum. Intraday bias in GBP/JPY is turned neutral first. Further decline is expected as long as 136.46 resistance holds. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Break of 133.03 will resume the fall from 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. Nevertheless, firm break of 136.46 will dampen this bearish view and turn bias back to the upside for rebound.

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) 133.00; (P) 133.69; (R1) 134.34; More…

GBP/JPY’s fall from 142.71 is still in progress and intraday bias stays on the downside. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Deeper fall would be seen to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 135.41 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

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) 133.35; (P) 134.34; (R1) 135.14; More…

Intraday bias in GBP/JPY remains on the downside as fall from 142.71 is in progress. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Deeper fall would be seen to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 135.41 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

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.