Daily Pivots: (S1) 134.68; (P) 135.42; (R1) 135.89; More…

Intraday bias in GBP/JPY stays on the downside at this point. 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 136.58 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.

GBP/JPY’s decline form 142.71 resumed last week and the development now argues that whole rebound from 123.94 has completed. Initial bias stays on the downside this week for 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, above 136.58 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.

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

Daily Pivots: (S1) 134.88; (P) 135.56; (R1) 136.53; More…

Further fall is expected in GBP/JPY with 136.58 minor resistance intact. Current development argues that whole corrective rebound from 123.94 has completed. Decline in 142.71 should target 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is still 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) 135.64; (P) 136.05; (R1) 136.55; More…

GBP/JPY’s fall from 142.71 resumes with a firm break of 38.2% retracement of 123.94 to 142.71 at 135.53. Intraday bias is now back on the downside. Current development argues that whole corrective rebound from 123.94 has completed. Further fall would be seen to 61.8% retracement at 131.11 next. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is still 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) 135.64; (P) 136.05; (R1) 136.55; More…

Intraday bias in GBP/JPY remains neutral at this point. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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) 135.41; (P) 135.93; (R1) 136.43; More…

Intraday bias in GBP/JPY stays neutral first. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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) 135.36; (P) 135.98; (R1) 136.40; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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) 135.42; (P) 136.00; (R1) 136.43; More…

Intraday bias in GBP/JPY is turned neutral as it lost momentum after hitting 38.2% retracement of 123.94 to 142.71 at 135.53. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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’s decline from 142.71 accelerated lower last week. Initial bias stays on the downside this week first. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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 144.65) will dampen this view and could open up further rise back to 195.86 (2015 high).

Daily Pivots: (S1) 134.95; (P) 136.65; (R1) 137.73; More…

GBP/JPY’s fall resumed after brief consolidation and intraday bias is break of the downside. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still 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) 137.07; (P) 137.72; (R1) 138.69; More…

A temporary low is formed at 136.71 in GBP/JPY and intraday bias is turned neutral for consolidations first. Risk will stay on the downside as long as 142.71 resistance holds. Break of 136.71 will target 38.2% retracement of 123.94 to 142.71 at 135.53. Reactions from there would decide whether whole rise from 123.94 has completed.

In the bigger picture, rise from 123.94 is still 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) 136.83; (P) 138.43; (R1) 139.23; More…

Intraday bias in GBP/JPY remains on the downside at this point. Current decline from 142.71 should target 38.2% retracement of 123.94 to 142.71 at 135.53. Reactions from there would decide whether whole rise from 123.94 has completed. On the upside, above 138.38 minor resistance will turn intraday bias neutral first.

In the bigger picture, rise from 123.94 is still 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) 139.36; (P) 140.18; (R1) 140.76; More…

GBP/JPY’s break of 138.24 support confirms short term topping at 132.71. Intraday bias is now back on the downside for 38.2% retracement of 123.94 to 142.71 at 135.53. Reactions from there would decide whether whole rise from 123.94 has completed. On the upside, above 140.07 minor resistance will turn intraday bias neutral first.

In the bigger picture, rise from 123.94 is still 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) 139.36; (P) 140.18; (R1) 140.76; More…

Intraday bias in GBP/JPY remains neutral first as consolidation form 142.71 is extending. With 138.24 support intact, further rise is still expected. On the upside, break of 142.71 will target 138.2% projection of 123.94 to 135.74 from 129.27 at 145.57 next. On the downside, however, break of 138.24 support will confirm short term topping, and turn bias back to the downside for 55 day EMA (now at 137.96).

In the bigger picture, rise from 123.94 is still 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) 140.31; (P) 140.87; (R1) 141.63; More…

GBP/JPY weakens mildly today but stays in consolidation from 142.71. Intraday bias remains neutral first. With 138.24 support intact, further rise is still expected. On the upside, break of 142.71 will target 138.2% projection of 123.94 to 135.74 from 129.27 at 145.57 next. On the downside, however, break of 138.24 support will confirm short term topping, and turn bias back to the downside for 55 day EMA (now at 137.96).

In the bigger picture, rise from 123.94 is still 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’s rally continued last week to 142.71 but retreated since then. Initial bias is neutral this week for some consolidations first. Further rise is expected as long as 138.24 support holds. Break of 142.71 will target 138.2% projection of 123.94 to 135.74 from 129.27 at 145.57 next. On the downside, however, break of 138.24 support will confirm short term topping, and turn bias back to the downside for 55 day EMA (now at 137.75).

In the bigger picture, rise from 123.94 is still 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 144.65) will dampen this view and could open up further rise back to 195.86 (2015 high).

Daily Pivots: (S1) 140.37; (P) 141.12; (R1) 141.76; More…

GBP/JPY is staying in consolidation from 142.71 and intraday bias remains neutral first. Near term outlook stays bullish as long as 138.24 support holds and further rise is expected. On the upside, break of 142.71 will target 161.8% projection of 123.94 to 135.74 from 129.27 at 148.36.

In the bigger picture, rise from 123.94 is still 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) 141.22; (P) 141.59; (R1) 142.17; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 142.71 temporary top. Near term outlook stay bullish as long as 138.24 support holds and further rise is expected. On the upside, break of 142.71 will target 161.8% projection of 123.94 to 135.74 from 129.27 at 148.36.

In the bigger picture, rise from 123.94 is still 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) 141.20; (P) 141.96; (R1) 142.58; More…

A temporary top is formed at 142.71 with current retreat. Intraday bias is turned neutral for some consolidation. But further rise is expected as long as 138.24 support holds. Break of 142.71 will target 161.8% projection of 123.94 to 135.74 from 129.27 at 148.36.

In the bigger picture, rise from 123.94 is still 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) 140.73; (P) 141.39; (R1) 142.25; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current rally from 123.94 should target 161.8% projection of 123.94 to 135.74 from 129.27 at 148.36. On the downside, break of 138.24 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rise from 123.94 is still 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.