Daily Pivots: (S1) 181.90 (P) 182.35; (R1) 183.14; More…

Immediate focus is no won 183.00 resistance in GBP/JPY. Firm break there will argue that the pull back from 187.65 has completed, and turn bias back to the upside for retesting this high. On the downside, below 180.26 minor support will turn bias back to the downside for 178.02 again.

In the bigger picture, fall from 186.75 is currently seen as a corrective move only. As long as 176.29 support holds, larger up trend from 123.94 (202 low) should still be in progress. Break of 186.75 will target 195.86 (2015 high). Nevertheless, firm break of 176.29 will confirm medium term topping, and bring lengthier and deeper consolidations.

Daily Pivots: (S1) 159.94; (P) 160.47; (R1) 161.54; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. On the downside, break of 155.57 will extend the correction towards 150.96 key structural support. Nevertheless, on the upside, firm break of 162.16 will indicate that the correction has completed, and bring retest of 168.40 high next.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 150.95 support holds, even in case of deep pull back. However, firm break of 150.95 will indicate rejection by 167.93, and bearish trend reversal.

Daily Pivots: (S1) 180.58; (P) 181.36; (R1) 182.15; More…

Intraday bias in GBP/JPY is turned neutral as recovery from 179.45 lost momentum after hitting 55 4H EMA. On the downside, break of 179.45 will resume the correction from 183.90 to 55 D EMA (now at 177.16). On the upside, firm break of 183.99 high will resume larger up trend to 187.36 projection level.

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue. On resumption, next target is 138.2% projection of 148.93 to 172.11 from 155.33 at 187.36, and then 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 163.40; (P) 164.25; (R1) 165.48; More…

Intraday bias in GBP/JPY is turned neutral with current recovery. Outlook is unchanged that corrective pattern from 168.67 is extending with another falling leg. Deeper fall could be seen to 160.37 support. On the upside, above 165.13 minor resistance will turn bias back to the upside for 166.23 resistance again.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 155.57 support holds, even in case of deep pull back.

Daily Pivots: (S1) 153.31; (P) 153.68; (R1) 154.23; More…

GBP/JPY is still bounded in range of 152.35/154.70 and Intraday bias remains neutral first. Further fall is mildly in favor and break of 152.35 will resume the decline from 158.19 to 148.93 key support next. On the upside, however, break of 154.70 will turn bias back to the upside for retesting 158.19 high instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Further rally is still expected as long as 148.93 support holds. However, firm break of 148.93 will argue that the medium term trend has reversed and bring deeper fall back to 142.71 resistance turned support first.

Daily Pivots: (S1) 174.09; (P) 174.31; (R1) 174.70; More…

GBP/JPY’s up trend resumes by breaking through 174.66 temporary top. Intraday bias is back on the upside. Next target is 100% projection of 148.93 to 172.11 from 155.33 at 178.51. On the downside, break of 172.64 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, up trend from 123.94 (2020 low) is extending. Next target will be 161.8% projection of 122.75 (2016 low) to 156.59 (2018 high) from 123.94 at 178.69. For now, medium term outlook will remain bullish as long as 167.82 support holds, even in case of deep pull back.

Daily Pivots: (S1) 150.39; (P) 150.90; (R1) 151.91; More…

Intraday bias in GBP/JPY remains neutral at this point. On the downside, firm break of 148.94 will resume larger fall from 158.19 to 145.10 medium term fibonacci level next. For now, outlook will stay bearish as long as 152.60 resistance holds, in case of stronger recovery.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low). Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

Daily Pivots: (S1) 154.95; (P) 155.19; (R1) 155.57; More…

GBP/JPY is staying in consolidation from 152.88 and intraday bias remains neutral. Further fall is still in favor with 155.38 minor resistance intact. Break of 152.88 will resume the decline from 157.74, as the third leg of the corrective pattern from 158.19, to 148.93 support next. However, sustained break of 155.38 will dampen this view and flip bias back to the upside for 157.74/158.19 resistance zone instead.

In the bigger picture, price actions from 158.19 are currently seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.

Daily Pivots: (S1) 147.61; (P) 148.00; (R1) 148.56; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, decisive break of 149.48 key resistance will carry larger bullish implication and target 156.58 resistance next. On the downside, though, break of 143.72 support will indicate near term reversal and turn outlook bearish for 141.00 support.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline in turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above. However, firm break of 141.00 support will dampen this view and turn focus back to 131.51 low instead.

GBP/JPY edged higher to 161.22 last week but failed to break through 162.32 resistance and reversed. Initial bias is now on the downside this week for 155.33 support first. Firm break there will resume whole decline from 172.11 to 153.70 fibonacci level. On the upside, above 158.09 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 161.22 resistance holds.

In the bigger picture, as long as 163.02 support turned resistance holds, decline from 172.11 medium term top is expected to continue to 38.2% retracement of 123.94 to 172.11 at 153.70. Sustained break there will raise the change of trend reversal and target 61.8% retracement at 142.34. Nevertheless, break of 163.02 support turned resistance will argue that the decline has completed, and retain medium term bullishness.

In the longer term picture, as long as 55 month EMA (now at 152.38) holds, rise from 122.75 could still extend higher at a later stage.

Daily Pivots: (S1) 150.98; (P) 151.44; (R1) 152.15; More…

Intraday bias in GBP/JPY remains mildly on the upside at this point. Correction from 156.05 might have completed at 148.43, after defending 38.2% retracement of 136.96 to 156.05 at 148.75 Further rise should be seen to 153.46 resistance first. Break will bring retest of 156.05 high. On the downside, below 150.71 minor support will turn intraday bias neutral again first.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Focus remains on 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. Next target is 61.8% retracement of 195.86 (2015 high) to 122.75 at 167.93. On the downside, sustained break of 149.03 support, however, will argue that rise from 123.94 has completed. Further break of 142.71 would open up the bearish case for retesting 122.75 low.

Daily Pivots: (S1) 165.80; (P) 166.45; (R1) 167.66; More…

Intraday bias in GBP/JPY remains on the upside for 168.40 resistance. Decisive break there will resume larger up trend. Next target is 100% projection of 150.95 to 168.40 from 155.57 at 173.02. On the downside, below 165.26 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 150.95 support holds, even in case of deep pull back. However, firm break of 150.95 will indicate rejection by 167.93, and bearish trend reversal.

GBP/JPY flip-flopped in range of 148.93/152.54 last week. Initial bias is neutral this week first. On the upside, above 150.92 minor resistance will turn bias back to the upside for 152.54. Firm break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 13.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

In the longer term picture, the strong break of 55 months EMA was an early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high). However, rejection by 156.69 will invalidate the bullish signal and keep long term outlook neutral first.

Daily Pivots: (S1) 182.73; (P) 182.99; (R1) 183.39; More…

Intraday bias in GBP/JPY is turned neutral with current retreat. Outlook is unchanged that corrective pattern from 183.99 has completed with three waves down to 176.29. Above 183.23 will target 183.99 resistance first. Decisive break there will resume larger up trend. However, break of 180.85 will turn bias to the downside to extend the corrective pattern from 183.99 with another falling leg.

In the bigger picture, as long as 172.11 resistance turned support holds, up trend from 123.94 (2020 low) is expected to continue through 183.99 at a later stage, towards 195.86 (2015 high). Nevertheless, firm break of 172.11 will argue that larger correction is already underway.

Daily Pivots: (S1) 149.79; (P) 150.19; (R1) 150.98; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 153.39 is extending. In case of deeper fall, downside should be contained by 148.50 support to bring rebound. On the upside, break of 153.39 will resume the whole rise from 123.94 to 156.59 long term resistance next. However, firm break of 148.50 will bring deeper correction to channel support (now at 143.16).

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 144.08; (P) 144.41; (R1) 144.72; More…

Intraday bias in GBP/JPY stays neutral with focus on 143.72 key support. On the downside, decisive break of 143.72 will indicate near term reversal, after rejection by 149.48 key resistance. In that case, intraday bias will be turned to the downside for 141.00 support first. Meanwhile, rebound from current level will retain bullishness. Decisive break of 149.48 key resistance will carry larger bullish in implications and target 156.58 resistance next.

In the bigger picture, focus is staying on 149.98 key resistance. Decisive break there should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Daily Pivots: (S1) 156.09; (P) 156.45; (R1) 156.94; More…

Outlook in GBP/JPY is unchanged and intraday bias stays neutral. On the downside, break of 155.11 resistance should confirm rejection by 158.19 resistance. Intraday bias will be turned to the downside for 152.88 support, to extend the corrective pattern from 158.19 with another falling leg. However, on the upside, sustained break of 158.19 will resume larger up trend.

In the bigger picture, price actions from 158.19 are seen as developing into a consolidation pattern to up trend from 123.94 (2020 low). Downside should be contained by 123.94 to 158.19 at 145.10 to bring rebound. Firm break of 158.19 will resume the up trend to long term fibonacci level at 167.93. However, sustained break of 145.10 will raise the chance of trend reversal and target 61.8% retracement at 137.02.

GBP/JPY fell to as 158.54 last week but recovered since then. Initial bias remains neutral this week first. Current development suggests that fall from 165.99 is a falling leg of the whole decline from 172.11. Deeper decline is expected as long as 164.12 resistance holds. Break of 158.54 will target a retest on 155.33 low.

In the bigger picture, as long as 38.2% retracement of 123.94 (2020 low) to 172.11 (2022 high) at 153.70 holds, medium term bullishness is retained. That is, larger up trend from 123.94 (2020 low) is still in progress. Break of 172.11 high to resume such up trend is expected at a later stage.

In the longer term picture, as long as 55 month EMA (now at 153.06) holds, rise from 122.75 (2016 low) could still extend higher at a later stage to 195.86 (2015 high).

Daily Pivots: (S1) 149.97; (P) 150.27; (R1) 150.77; More…

Range trading continues in GBP/JPY and intraday bias remains neutral first. On the downside, firm break of 148.93 key structural support will carry larger bearish implications. Next target is 161.8% projection of 158.19 to 152.35 from 154.70 at 145.25. On the upside, however, break of 152.35 support turned resistance will argue that the pull back from 158.19 is complete. Intraday bias will be turned back to the upside for retesting 158.19 high.

In the bigger picture, the break of medium term channel support, and bearish divergence condition in week MACD are raising the chance of medium term topping at 158.19. Firm break of 148.93 support will argue that GBP/JPY is at least correcting the whole rise from 123.94 (2020 low). In this case, deeper fall would be seen to 38.2% retracement of 123.94 to 158.19 at 145.10. Nevertheless, strong rebound from 148.93 will retain medium term bullishness for another rise through 158.19 at a later stage.

Daily Pivots: (S1) 163.82; (P) 164.40; (R1) 165.31; More…

Intraday bias in GBP/JPY remains neutral first. Corrective pattern from 168.67 could still extend further. Below 162.98 minor support will target 160.37. Nevertheless, break of 166.23 will bring retest of 168.67 high instead. And, larger up trend might be ready to resume in this case.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will be a long term bullish signal, and could pave the way back to 195.86 high. This will now remain the favored case as long as 155.57 support holds, even in case of deep pull back.