Daily Pivots: (S1) 141.77; (P) 142.15; (R1) 142.44; More…

GBP/JPY is staying in range below 144.84 and intraday bias remains neutral first. At this point, rebound from 131.51 might still extend. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.77; (P) 142.15; (R1) 142.44; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY gyrated lower last week but downside was contained above 140.62 support so far. Initial bias remains neutral this week first and outlook is unchanged. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 141.37; (P) 141.99; (R1) 142.87; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.78; (P) 142.15; (R1) 142.56; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 147.13) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.79; (P) 142.68; (R1) 143.30; More…

GBP/JPY’s consolidation from 144.84 is still in progress and intraday bias remains neutral. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 147.13) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.87; (P) 143.52; (R1) 143.95; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 144.84 is in progress. Above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 147.17) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.38; (P) 142.94; (R1) 143.84; More…

GBP/JPY is staying in consolidation from 144.84 and intraday bias remains neutral. resistance at around 147.23. We’d expect strong resistance from there to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY retreated last week as price actions from 144.84 developed into consolidation pattern. Initial bias remains neutral this week first. Further rise is expected as long as 140.62 minor support holds. Break of 144.82 will resume the rebound from 131.51 to trendline resistance at around 147.23. We’d expect strong resistance from there to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 142.24; (P) 142.72; (R1) 143.20; More…

GBP/JPY is staying in consolidation from 144.84 temporary top and intraday bias remains neutral first. Further rise is still expected as long as 140.62 support holds. Above 144.84 will extend the rebound from 131.51 to trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.63; (P) 143.12; (R1) 143.50; More…

Intraday bias in GBP/JPY stays neutral as consolidation from 144.84 continues. Further rise is still expected as long as 140.62 support holds. Above 144.84 will extend the rebound from 131.51 to trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.29; (P) 143.37; (R1) 144.02; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 144.84 temporary top. Further rise is still expected as long as 140.62 support holds. Above 144.84 will extend the rebound from 131.51 to trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 143.51; (P) 144.18; (R1) 145.27; More…

A temporary top is in place at 144.84 in GBP/JPY with the current retreat. Intraday bias is turned neutral for consolidation. For now, further rise is still expected as long as 140.62 support holds. Above 144.82 will extend the rebound from 131.51 to trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 143.51; (P) 144.18; (R1) 145.27; More…

Intraday bias in GBP/JPY remains on the upside as rise from 131.51 is in progress for trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, below 143.39 minor support will turn intraday bias neutral first and bring consolidations. But further rise will remain in favor as long as 139.43 resistance turned support holds.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY’s rebound from 131.51 extended to as high as 144.84 last week and there is no sign of topping yet. Initial bias remains on the upside this week for trendline resistance at around 147.35. We’d expect strong resistance from there to limit upside at first attempt. On the downside, below 143.39 minor support will turn intraday bias neutral first and bring consolidations. But further rise will remain in favor as long as 139.43 resistance turned support holds.

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 is 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 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 142.77; (P) 143.16; (R1) 143.61; More…

GBP/JPY’s rally is still in progress and intraday bias remains on the upside. Current rise from 131.51 would now target trendline resistance at around 147.56. We’d expect strong resistance from there to limit upside at first attempt. On the downside, below 142.71 minor support will turn intraday bias neutral first. But further rise will remain in favor as long as 139.43 resistance turned support holds.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.

Daily Pivots: (S1) 142.05; (P) 142.81; (R1) 143.99;  More…

Intraday bias in GBP/JPY remains on the upside. Current rise from 131.51 is in progress for 143.93 resistance. Break will pave the way back to 149.48 key resistance next. On the downside, below 140.62 minor support will turn intraday bias neutral again. But further rally is expected as long as 137.35 minor support holds.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.

Daily Pivots: (S1) 140.93; (P) 141.41; (R1) 142.20; More…

GBP/JPY’s rise accelerates to as high as 143.51 so far. Intraday bias stays on the upside. Break of 143.93 resistance will pave the way back to 149.48 key resistance next. On the downside, below 140.62 minor support will turn intraday bias neutral again. But further rally is expected as long as 137.35 minor support holds.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.

Daily Pivots: (S1) 140.93; (P) 141.41; (R1) 142.20; More…

GBP/JPY’s breach of 142.22 suggests resumption of rebound from 131.51. Intraday bias is back on the upside for 143.93 resistance first. Break will pave the way to 149.48 resistance next. On the downside, below 140.62 minor support will turn intraday bias neutral again. But further rally is expected as long as 137.35 minor support holds.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.

Daily Pivots: (S1) 140.88; (P) 141.20; (R1) 141.72; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 142.22 temporary top. Further rise is expected as long as 137.35 minor support holds. On the upside, above 142.22 will extend the rebound from 131.51 to 143.93 resistance first. Break will pave the way to 149.48 resistance next. However, break of 137.35 will suggest completion of rebound from 131.51 and bring retest of this low.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 (2018 high) already. That came after failing to break through 55 month EMA. No change in this view. Strong rebound from 131.51 argues that fall from 156.59 is just the second leg of the corrective pattern from 122.36. Break of 149.38 resistance will confirm the third leg has started to 159.69, and possibly above. Nevertheless, break of 131.51 will pave the way to retest 122.26 low.