Daily Pivots: (S1) 188.05; (P) 188.74; (R1) 189.62; More…

GBP/JPY’s break of 38.2% retracement of 208.09 to 180.00 at 190.73 argues that the decline from 208.09 has completed at 180.00 already. Rise from there is now seen as the second leg of the corrective pattern from 208.09. Intraday bias is on the upside for 61.8% retracement at 197.35. On the downside, however, break of 187.84 minor support will turn bias back to the downside for retesting 180.00 instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). Current development suggests that the first leg has completed and the range of medium term consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09.

Daily Pivots: (S1) 188.05; (P) 188.74; (R1) 189.62; More…

Intraday bias in GBP/JPY stays neutral and outlook remains bearish with 38.2% retracement of 208.09 to 180.00 at 190.73 intact. On the downside, below 186.46 minor support will turn intraday bias back to the downside for retesting 180.00 low. Break there will resume the fall from 208.90 to 178.32 support next. However, firm break of 190.73 will extend the rebound to 61.8% retracement at 197.35, even as a corrective move.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.18) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 187.81; (P) 188.67; (R1) 189.74; More…

Intraday bias in GBP/JPY remains neutral for the moment. Outlook remains bearish with 38.2% retracement of 208.09 to 180.00 at 190.73 intact. On the downside, below 186.46 minor support will turn intraday bias back to the downside for retesting 180.00 low. Break there will resume the fall from 208.90 to 178.32 support next. However, firm break of 190.73 will extend the rebound to 61.8% retracement at 197.35, even as a corrective move.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.18) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 186.87; (P) 188.10; (R1) 189.15; More…

Intraday bias in GBP/JPY stays neutral and outlook remains bearish with 38.2% retracement of 208.09 to 180.00 at 190.73 intact. On the downside, below 184.46 minor support will turn intraday bias back to the downside for retesting 180.00 low. Break there will resume the fall from 208.90 to 178.32 support next. However, firm break of 190.73 will extend the rebound to 61.8% retracement at 197.35, even as a corrective move.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.18) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 186.17; (P) 187.30; (R1) 188.12; More…

Intraday bias in GBP/JPY remains neutral for the moment. While recovery from 180.00 might extend higher, outlook will stay bearish as long as 38.2% retracement of 208.09 to 180.00 at 190.73 holds. On the downside, below 184.46 minor support will turn intraday bias back to the downside for retesting 180.00 low. Break there will resume the fall from 208.90 to 178.32 support next. However, firm break of 190.73 will extend the rebound to 61.8% retracement at 197.35, even as a corrective move.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.18) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

GBP/JPY rebounded after initial dive to 180.00 last week. While further rise cannot be ruled out, outlook will stay bearish as long as 38.2% retracement of 208.09 to 180.00 at 190.73 holds. On the downside, below 184.46 minor support will turn intraday bias back to the downside for retesting 180.00 low. Break there will resume the fall from 208.90 to 178.32 support next. However, firm break of 190.73 will extend the rebound to 61.8% retracement at 197.35, even as a corrective move.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.23) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 169.23).

Daily Pivots: (S1) 185.54; (P) 186.71; (R1) 188.93; More…

Intraday bias in GBP/JPY stays neutral and outlook remains bearish as long as 190.48 resistance holds. On the downside, below 183.10 minor support will bring retest of 180.00 first. Break there will resume the fall from 208.09 to 178.32 support next. Nevertheless, firm break of 190.48 will confirm short term bottoming and bring stronger rebound.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.31) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 183.47; (P) 185.78; (R1) 188.55; More…

Intraday bias in GBP/JPY remains neutral for the moment. Outlook stays bearish as long as 190.48 resistance holds. On the downside, below 183.10 minor support will bring retest of 180.00 first. Break there will resume the fall from 208.09 to 178.32 support next. Nevertheless, firm break of 190.48 will confirm short term bottoming and bring stronger rebound.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.31) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 181.68; (P) 184.38; (R1) 185.95; More…

GBP/JPY’s recovery from 180.00 extends higher today but stays well below 193.23 resistance. Intraday bias remains neutral first and further decline is in favor. On the downside, below 183.10 minor support will bring retest of 180.00 first. Break there will resume the fall from 208.09 to 178.32 support next.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.31) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 180.22; (P) 184.11; (R1) 188.11; More…

GBP/JPY recovered after diving to 180.00 and intraday bias is turned neutral first. Some consolidations would be seen but upside should be limited by 193.23 resistance to bring another fall. Break of 180.00 will resume the decline from 208.09 to 178.32 support next.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 123.94 (2020 low). Deeper decline is in favor as long as 55 W EMA (now at 189.31) holds. But strong support could emerge between 178.32 and 38.2% retracement of 123.94 to 208.09 at 175.94 to bring rebound. Meanwhile, sustained trading above 55 W EMA will suggest that the range for the medium term corrective pattern is already set.

Daily Pivots: (S1) 186.37; (P) 188.64; (R1) 189.89; More…

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 148.93 (2022 low). 38.2% retracement of 148.93 to 208.09 at 185.49 is already met. Decisive break there will argue that even larger scale correction is already underway. For now, risk will stay on the downside as long as 55 W EMA (now at 189.31) holds. in case of rebound.

GBP/JPY’s fall from 208.09 continued last week and accelerated further. This decline is as correcting the whole rally from 148.93. Initial bias stays on the downside this week for 185.49 fibonacci level. On the upside, above 193.23 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, fall from 208.09 medium term top is seen as correcting the up trend from 148.93 (2022 low). Further decline should be seen to 38.2% retracement of 148.93 to 208.09 at 185.49. Decisive break there will argue that even larger scale correction is already underway. For now, risk will stay on the downside as long as 55 D EMA (now at 199.44) holds. in case of rebound.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 169.23).

Daily Pivots: (S1) 190.80; (P) 194.20; (R1) 196.23; More…

Intraday bias in GBP/JPY remains on the downside for the moment. Current fall from 208.09 is in progress for 185.49 fibonacci level. On the upside, above 193.96 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 199.51) holds. Deeper fall would be seen to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 190.80; (P) 194.20; (R1) 196.23; More…

GBP/JPY’s fall from 208.09 continues today and intraday bias stays on the downside. Current decline is a larger scale correction and should target 185.49 fibonacci level. For now, outlook will continue to stay bearish as long as 199.45 resistance holds, in case of recovery.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 199.93) holds. Deeper fall would be seen to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 194.86; (P) 197.17; (R1) 198.37; More…

Intraday bias in GBP/JPY is back on the downside with breach of 195.84 temporary low. Fall from 208.09 is probably a larger scale correction and should target 185.49 fibonacci level. Nevertheless, on the upside, firm break of 199.45 resistance will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 200.51) holds. Deeper fall would be seen to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 197.05; (P) 197.83; (R1) 198.87; More…

Intraday bias in GBP/JPY remains neutral as consolidations continue above 195.84. Further decline is expected as long as 55 4H EMA (now at 200.20) holds. On the downside, sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level. However, sustained break of 55 4H EMA will turn bias back to the upside for stronger rebound to 55 D EMA (now at 200.63).

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 200.63) holds. Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 196.72; (P) 197.93; (R1) 198.96; More…

Intraday bias in GBP/JPY remains neutral for consolidations above 195.84 temporary low. Further decline is expected as long as 202.08 support turned resistance holds. On the downside, sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 200.78) holds. Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

GBP/JPY’s fall from 208.09 accelerated to as low as 195.84 last week, but recovered after breaching 38.2% retracement of 178.32 to 208.09 at 196.71 briefly. Initial bias remains neutral this week for consolidations. Risk will stay on the downside as long as 202.08 resistance holds. Sustained trading below 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 200.78) holds. Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

In the longer term picture, outlook will stay bullish as long as 188.63 resistance turned support holds, or until a clear reversal pattern forms. Rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Next target is 138.2% projection of 116.83 to 195.86 from 122.75 at 231.96.

Daily Pivots: (S1) 196.14; (P) 197.55; (R1) 199.22; More…

A temporary low should be formed at 195.84 and intraday bias in GBP/JPY is turned neutral for consolidations. Risk will stay on the downside as long as 202.08 support turned resistance holds. Sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 201.00). Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 197.22; (P) 199.20; (R1) 200.63; More…

There is no sign of bottoming in GBP/JPY yet as fall from 208.09 continues today. Intraday bias stays on the downside. Sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level. On the upside, above 199.80 minor resistance will turn intraday bias neutral first.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 201.00). Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.