Daily Pivots: (S1) 139.52; (P) 139.97; (R1) 140.86; More…

GBP/JPY is staying in consolidation from 141.50 and intraday bias remains neutral. Deeper retreat could be seen but downside should be contained by 135.74 resistance turned support. On the upside, above 141.50 will resume the rise from 126.54 for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.08; (P) 140.10; (R1) 140.68; More…

Intraday bias in GBP/JPY turned neutral for consolidation below 141.50 temporary top. Deeper retreat could be seen but downside should be contained by 135.74 resistance turned support. On the upside, above 141.50 will resume the rise from 126.54 for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.71; (P) 140.53; (R1) 141.58; More…

With 138.58 minor support intact, intraday bias in GBP/JPY remains on the upside. Current rise from 136.54 should target a test on 148.87 key resistance. On the downside, break of 138.58 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.81; (P) 140.28; (R1) 141.20; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rise from 136.54 should target a test on 148.87 key resistance. On the downside, break of 138.58 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

GBP/JPY’s rise from 126.54 extended to as high as 141.50 last week and matched 61.8% retracement of 148.84 to 126.54 at 140.33. With 137.51 minor support intact, initial bias remains on the upside this week. Sustained trading above 140.33 will pave the way to 148.87 resistance next. On the downside, break of 136.44 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.

Daily Pivots: (S1) 138.63; (P) 140.07; (R1) 141.50; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Sustained break of 61.8% retracement of 148.84 to 126.54 at 140.33. will pave the way to 148.87 resistance next. On the downside, break of 136.44 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 138.06; (P) 139.00; (R1) 140.47; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Rise from 126.54 should target 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next. On the downside, break of 136.44 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 137.32; (P) 138.32; (R1) 140.18; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rise from 126.54 is in progress for 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next. On the downside, break of 136.44 minor support will turn intraday bias neutral again and bring consolidations, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 135.66; (P) 136.42; (R1) 137.33; More…

GBP/JPY’s break of 137.88 temporary suggests rally resumption. Intraday bias is back on the upside. Rise from 126.54 should target 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next. On the downside, break of 136.44 minor support will turn intraday bias neutral again and bring consolidations before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 135.66; (P) 136.42; (R1) 137.33; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 137.88 temporary top. Some consolidation could be seen but downside should be contained well above 130.42 support to bring rise resumption. On the upside, above 137.88 will target 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 134.83; (P) 136.36; (R1) 138.70; More…

A temporary top is formed at 137.88 and intraday bias is turned neutral first. Some consolidation could be seen but downside should be contained well above 130.42 support to bring rise resumption. On the upside, above 137.88 will target 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

GBP/JPY’s rebound from 126.54 resumed last week and accelerated to as high as 137.89. Current development argues that such rise is the third leg of a long term consolidation pattern. Initial bias stays on the upside this week for 61.8% retracement of 148.84 to 126.54 at 140.33. Firm break there will pave the way to 148.87 resistance next. On the downside, below 136.46 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.

Daily Pivots: (S1) 131.82; (P) 133.19; (R1) 135.65; More…

GBP/JPY’s rally accelerates to as high as 137.46 so far. Break of 135.74 resistance confirms resumption of whole rise from 126.54 low. Intraday bias stays on the upside for 61.8% retracement of 148.84 to 126.54 at 140.33. On the downside, below 134.55 minor support will turn intraday bias neutral first.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low)..

Daily Pivots: (S1) 131.82; (P) 133.19; (R1) 135.65; More…

Intraday bias in GBP/JPY remains on the upside for 135.74 resistance. Break there will resume whole rebound from 126.54 and target 61.8% retracement of 148.84 to 126.54 at 140.33. On the downside, break of 130.42 will resume the fall to retest 126.54 low.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 130.60; (P) 131.21; (R1) 131.77; More…

GBP/JPY’s rebound and break of 132.24 resistance suggests that pull back from 135.74 is completed. And rise from 126.54 is possibly not over yet. Intraday bias is turned back to the upside for 135.74 first. On the downside, break of 130.42 will resume the fall to retest 126.54 low.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 130.60; (P) 131.21; (R1) 131.77; More…

With 132.24 minor resistance intact, further decline is expected in GBP/JPY for retesting 126.54 low. However, break of 132.24 minor resistance will turn intraday bias back to the upside for 135.74 resistance instead.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 130.15; (P) 131.14; (R1) 131.83; More…

Intraday bias in GBP/JPY remains on the downside at this point. Corrective rebound from 126.54 should have completed. Deeper fall should be seen to retest this low. On the upside, break of 132.24 minor resistance will turn intraday bias back to the upside for 135.74 resistance instead.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 131.34; (P) 131.79; (R1) 132.26; More…

GBP/JPY’s fall from 135.74 continues today and intraday bias remains on the downside. Corrective rebound from 126.54 should have completed. Deeper fall should be seen to retest this low. On the upside, break of 132.24 minor resistance will turn intraday bias back to the upside for 135.74 resistance instead.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 131.34; (P) 131.79; (R1) 132.26; More…

With 133.35 minor resistance intact, further decline is expected in GBP/JPY. Corrective rebound from 126.54 should have completed at 135.74. Deeper fall should be seen back to retesting 126.54 low. On the upside, break of 133.35 will turn intraday bias back to the upside for 135.74 resistance instead.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).

Daily Pivots: (S1) 131.43; (P) 131.72; (R1) 132.14; More…

Intraday bias in GBP/JPY remains mildly on the downside. Corrective rebound from 126.54 should have completed at 135.74. Deeper fall should be seen back to retesting 126.54 low. On the upside, break of 133.35 will turn intraday bias neutral first and turn focus back to 135.74 resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is possibly still in progress. Strong rebound from 126.54 argues that it may be the third leg of the pattern. Further rise could be seen to 148.87/156.59 resistance zone before completion. On the downside, though, sustained break of 122.75 low will target 116.83 (2011 low).