Daily Pivots: (S1) 143.99; (P) 144.83; (R1) 145.30; More…

GBP/JPY formed a temporary top at 145.67 and intraday bias is turned neutral first. As long as 142.81 minor support holds, another rise is mildly in favor. Above 145.67 will target trend line resistance (now at 147.01). Firm break there will be a signal of bullish reversal and should target 149.30 resistance for confirmation. However, break of 142.81 will argue that the rebound form 139.88 has completed and turn bias back to the downside for 139.29/47 key support zone.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. Focus remains on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 143.69; (P) 144.64; (R1) 146.44; More…

GBP/JPY’s rebound from 139.88 is still in progress and reaches as high as 145.67 so far. Intraday bias stays on the upside for trend line resistance (now at 147.04). Firm break there will be a signal of bullish reversal and should target 149.30 resistance for confirmation. On the downside, below 143.65 minor support will turn intraday bias neutral first.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. Focus remains on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 142.89; (P) 143.28; (R1) 143.51; More…

GBP/JPY’s rebound from 139.88 resumes after brief consolidation and reaches as high as 144.77 so far. Intraday bias is back on the upside for further rally. Sustained trading above 55 day EMA (now at 144.66) will bring further rise to 149.30 key resistance. On the downside, though, break of 142.81 will suggest that the rebound is completed and bring retest of 139.88 low.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the downside acceleration makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 142.89; (P) 143.28; (R1) 143.51; More…

Intraday bias in GBP/JPY is turned neutral with a temporary top formed at 143.65. Another rise is mildly in favor as long as 141.92 minor support holds. Above 143.65 will target 55 day EMA (now at 144.60) and above. On the downside, however, below 141.92 minor support will indicate completion of the rebound. And larger down trend will likely resume for 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the downside acceleration makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 142.74; (P) 143.01; (R1) 143.50; More…

GBP/JPY’s rebound from 139.88 is still in progress for 55 day EMA (now at 144.68) even though upside momentum is diminishing. On the downside, however, below 141.92 minor support will indicate completion of the rebound. And larger down trend will likely resume for 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the downside acceleration makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 142.57; (P) 142.91; (R1) 143.29; More…

With 141.32 minor support intact, further rise could still be seen in GBP/JPY for 55 day EMA (now at 144.71). On the downside, however, below 141.32 minor support will indicate completion of the rebound. And larger down trend will likely resume for 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the downside acceleration makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

GBP/JPY’s rebound last week suggests short term bottoming at 139.88. Initial bias stays mildly on the upside this week rebound to 55 day EMA (now at 144.85). On the downside, however, below 141.32 minor support will indicate completion of the rebound. And larger down trend will likely resume for 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the downside acceleration makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.88) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 142.37; (P) 142.69; (R1) 142.97; More…

With 141.32 minor support intact, rebound from 139.88 short term bottom is in favor to continue. GBP/JPY be targeting 55 day EMA (now at 144.78). However, on the downside, below 141.32 minor support will likely extend larger down trend and turn focus back to 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 142.23; (P) 142.52; (R1) 143.04; More…

With 141.32 minor support intact, rebound from 139.88 short term bottom could extend higher to 55 day EMA (now at 144.86). However, on the downside, below 141.32 minor support will likely extend larger down trend and turn focus back to 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 141.07; (P) 141.88; (R1) 143.10; More…

Break of 142.46 minor resistance suggests short term bottoming at 139.89. Intraday bias is back on the upside for further rebound to 4 hour 55 EMA (now at 144.92). On the downside, below 141.32 minor support will extend larger down trend and turn focus back to 139.29/47 key support zone instead.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.61; (P) 140.96; (R1) 141.19; More…

GBP/JPY’s recovery from 139.88 is so far very weak. Intraday bias remains neutral and consolidation from 139.88 might extend further. Still, as long as 142.46 minor resistance intact, deeper fall is in favor. Sustained break of 139.29/47 key support zone will carry larger bearish implication and target 135.58 support next. Though, break of 142.46 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.36; (P) 140.76; (R1) 141.31; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 139.88 temporary low. But as long as 142.46 minor resistance intact, , deeper fall is still in favor. Sustained break of 139.29/47 key support zone will carry larger bearish implication and target 135.58 support next. Though, break of 142.46 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

GBP/JPY dropped further to as low as 139.88 last week but turned sideway ahead of 139.29/47 key support level. Initial bias remains neutral this week first. As long as 142.46 minor resistance holds, deeper fall is still in favor. Sustained break of 139.29 will carry larger bearish implication and target 135.58 support next. Though, break of 142.46 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.88) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 140.34; (P) 140.83; (R1) 141.46; More…

Intraday bias remains neutral for consolidation above 139.88 temporary low. Deeper fall could be seen. But considering loss of downside momentum, downside will be contained by 139.29/47 key support level to bring rebound. On the upside, break of 142.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 139.76; (P) 140.76; (R1) 141.64; More…

GBP/JPY dipped to 139.88 but quickly recovered from there. Intraday bias is turned neutral first. Considering mildly bullish convergence condition in 4 hour MACD, in case of another fall, downside will be contained by 139.29/47 key support level to bring rebound. On the upside, break of 142.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.77; (P) 141.58; (R1) 142.17; More…

GBP/JPY’s fall resumed after brief consolidation and reaches as low as 139.88 so far. Intraday bias is back on the downside. Current decline from 156.59 should target 139.29/47 key support level. We’ll pay attention to bottoming signal around there. But decisive of this support will carry larger bearish implications. On the upside, break of 142.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.77; (P) 141.58; (R1) 142.17; More…

GBP/JPY is staying in consolidation from 140.23 and intraday bias remains neutral at this point. Stronger recovery cannot be ruled out. But outlook will remain bearish as long as 143.48 minor resistance holds. On the downside, break of 140.23 will extend the down trend from 156.59 to 139.29/47 key support level. We’ll pay attention to bottoming signal around there.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.43; (P) 141.14; (R1) 142.03; More…

Intraday bias in GBP/JPY is turned neutral with a temporary low formed at 140.23. Some consolidations would be seen but deeper decline remains in favor as long as 143.48 minor resistance holds. Below 140.23 will extend the down trend from 156.59 to 139.29/47 key support level. We’ll pay attention to bottoming signal around there.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

Daily Pivots: (S1) 140.87; (P) 141.78; (R1) 142.57; More…

GBP/JPY drops to as low as 140.23 so far and intraday bias remains on the downside. Current decline should target 139.29/47 key support level. We’ll pay attention to bottoming signal around there. Nonetheless, , break of 143.48 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

GBP/JPY dropped sharply to as low as 140.92 last week. Strong break of 143.18 support confirmed resumption of whole decline from 156.59. Initial bias stays on the downside this week for 139.29/47 key support level. We’ll pay attention to bottoming signal around that level. On the upside, break of 143.48 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, at this point decline from 156.59 is still seen as a corrective move. But the current downside accelerate makes this view shaky. Focus will be on 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Strong rebound from there will re-affirm the bullish case that rise from 122.36 is still to extend through 156.59 high. However, sustained break of 139.29/47 should confirm medium term reversal. GBP/JPY would then target a retest on 122.26 (2016 low).

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.88) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.