Daily Pivots: (S1) 131.56; (P) 132.13; (R1) 132.93; More…

Intraday bias in GBP/JPY remains neutral first. Another fall is in favor as long as 133.17 minor resistance holds. Below 130.64 will target a test on 123.94 low. Nevertheless, break of 130.64 will turn bias to the upside for 61.8% retracement of 144.95 to 123.94 at 136.92.

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.

GBP/JPY dropped to 130.64 last week but couldn’t sustain below 131.90 resistance and recovered. Initial bias is neutral this week first and outlook is a bit mixed. Though, another fall is in favor as long as 133.17 minor resistance holds. Below 130.64 will target a test on 123.94 low. Nevertheless, break of 130.64 will turn bias to the upside for 61.8% retracement of 144.95 to 123.94 at 136.92.

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.

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) could be resuming. Break of 116.83 will target 61.8% projection of 195.86 to 122.75 from 147.95 at 102.76 next.

Daily Pivots: (S1) 130.68; (P) 131.36; (R1) 132.04; More…

GBP/JPY recovers with 4 hour MACD crossed above signal line. But further fall is expected as long as 133.17 minor resistance holds. Corrective rebound from 123.94 should have completed and deeper fall would be seen back to retest this low. However, above 133.17 might extend the rebound to 61.8% retracement of 144.95 to 123.94 at 136.92.

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) 130.27; (P) 131.47; (R1) 132.11; More…

GBP/JPY recovers today but with 133.17 minor resistance intact, further decline is expected. Corrective rebound from 123.94 should have completed. Deeper fall is in favor to retest 123.94 low. On the upside, above 133.17 minor resistance will turn intraday bias neutral first. But after all, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92.

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) 132.21; (P) 132.70; (R1) 132.94; More…

GBP/JPY’s break of 131.90 support suggests that corrective rebound from 123.94 has completed. Intraday bias is turned back to the downside for retesting 123.94 low. On the upside, above 133.17 minor resistance will turn intraday bias neutral first. But after all, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92.

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) 132.21; (P) 132.70; (R1) 132.94; More…

Intraday bias in GBP/JPY remains neutral for the moment. Break of 131.90 support should indicate completion of whole rebound form 123.94. Intraday bias will be turned to the downside for retesting 123.94 low. In case of another rise, we’d strong resistance from 61.8% retracement of 144.95 to 123.94 at 136.92 to limit upside. But sustained break of 135.74 will pave the way to 144.95 resistance next.

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) 132.35; (P) 132.96; (R1) 133.39; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. Corrective rebound from 123.94 might not be over. But in case of another rise, we’d strong resistance from 61.8% retracement of 144.95 to 123.94 at 136.92 to limit upside. But sustained break of 135.74 will pave the way to 144.95 resistance next. On the downside, break of 131.90 will turn bias back to the downside for retesting 123.94 low.

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) 132.93; (P) 134.00; (R1) 134.64; More…

Intraday bias in GBP/JPY remains neutral for the moment. Corrective rebound from 123.94 might not be over. But in case of another rise, we’d strong resistance from 61.8% retracement of 144.95 to 123.94 at 136.92 to limit upside. But sustained break of 135.74 will pave the way to 144.95 resistance next. On the downside, break of 131.90 will turn bias back to the downside for retesting 123.94 low.

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.

GBP/JPY’s strong recovery last week suggests that rebound from 123.94 hasn’t completed yet. Initial bias stays neutral this week first. On the upside, break of 135.74 will target 61.8% retracement of 144.95 to 123.94 at 136.92. We’d look for strong resistance from there to limit upside. But sustained break of 135.74 will pave the way to 144.95 resistance next. On the downside, break of 131.90 will turn bias back to the downside for retesting 123.94 low.

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.

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) could be resuming. Break of 116.83 will target 61.8% projection of 195.86 to 122.75 from 147.95 at 102.76 next

Daily Pivots: (S1) 133.23; (P) 134.35; (R1) 136.02; More…

GBP/JPY’s strong rebound argues that pull back from 135.74 has completed. More importantly, rise from 123.94 is probably not over. On the upside, break of 135.74 will target 61.8% retracement of 144.95 to 123.94 at 136.92. We’d look for strong resistance from there to limit upside. But sustained break of 135.74 will pave the way to 144.95 resistance next. On the downside, break of 131.90 will turn bias back to the downside for retesting 123.94 low.

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) 132.25; (P) 132.63; (R1) 133.31; More…

Intraday bias in GBP/JPY remains neutral for the moment. Corrective rebound from 123.94 could have already completed at 135.74 already. On the downside, break of 131.90 will resume the fall from 135.74 and target a retest on 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 132.47; (P) 133.01; (R1) 133.30; More…

Outlook in GBP/JPY is unchanged and intraday bias stays neutral first. Corrective rebound from 123.94 could have already completed at 135.74 already. On the downside, break of 131.90 will resume the fall from 135.74 and target a retest on 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 132.91; (P) 133.24; (R1) 133.66; More…

Intraday bias in GBP/JPY stays neutral and outlook is unchanged. Corrective rebound from 123.94 could have already completed at 135.74 already. On the downside, break of 131.90 will resume the fall from 135.74 and target a retest on 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 132.51; (P) 132.83; (R1) 133.27; More…

Intraday bias in GBP/JPY remains neutral first. Corrective rebound from 123.94 could have already completed at 135.74 already. On the downside, break of 131.90 will resume the fall from 135.74 and target a retest on 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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.

GBP/JPY’s decline last week argues that corrective rebound from 123.94 has already completed at 135.74 already. Nevertheless, as a temporary low was formed at 131.90, initial bias is neutral this week first. On the downside, break of 131.90 will resume the fall from 135.74 and target a retest on 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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.

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) could be resuming. Break of 116.83 will target 61.8% projection of 195.86 to 122.75 from 147.95 at 102.76 next

Daily Pivots: (S1) 132.28; (P) 132.98; (R1) 133.57; More…

Intraday bias in GBP/JPY remains neutral first. We’re favoring the case that corrective rebound from 123.94 has completed at 135.74. Break of 131.90 will turn bias to the downside for retesting 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 132.17; (P) 132.74; (R1) 133.41; More…

GBP/JPY recovered after hitting 131.90 and intraday bias is turned neutral first. We’re favoring the case that corrective rebound from 123.94 has completed at 135.74. Break of 131.90 will turn bias to the downside for retesting 123.94 low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 131.58; (P) 132.83; (R1) 133.74; More…

Intraday bias in GBP/JPY remains on the downside. Corrective rebound from 123.94 should have completed at 135.74. Deeper fall would be seen to retest this low. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 133.50; (P) 134.12; (R1) 134.42; More…

GBP/JPY’s break of 132.40 support suggests that corrective rebound from 135.47 has completed. Intraday bias is turned back to the downside for retesting 123.94 low. Decisive break of 122.75/123.94 support zone will resume larger down trend. On the upside, in case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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) 133.50; (P) 134.12; (R1) 134.42; More…

Intraday bias in GBP/JPY stays neutral at this point. On the downside, break of 132.40 minor support will suggest completion of corrective rebound from 123.94. Intraday bias will be turned back to the downside for retesting 123.94 low. In case of another rise, upside should be limited by 61.8% retracement of 144.95 to 123.94 at 136.92 to bring near term reversal.

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.