GBP/JPY’s up trend resumed last week and edged higher to 201.59, but retreated notably since then. Initial bias is turned neutral this week first. Further rally is expected as long as 197.18 support holds. However, considering bearish divergence condition in 4 H MACD, firm break of 197.18 will confirm short term topping, and turn bias back to the downside for 191.34 support instead.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Focus is now on 61.8% retracement of 251.09 (2007 high) to 116.83 at 199.80. Decisive break there would pave the way back to 251.09 in the long term.

Daily Pivots: (S1) 199.62; (P) 200.47; (R1) 201.25; More…

While upside moment isn’t too unconvincing, intraday bias in GBP/JPY stays on the upside for now. Current up trend should target Next target is 61.8% projection of 191.34 to 200.72 from 197.18 at 202.97. On the downside, below 199.67 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 199.96; (P) 200.46; (R1) 201.08; More…

Intraday bias in GBP/JPY is back on the upside as up trend resumes. Next target is 61.8% projection of 191.34 to 200.72 from 197.18 at 202.97. On the downside, below 199.92 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 199.77; (P) 200.09; (R1) 200.49; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, decisive break of 200.72 will resume larger up trend. Nevertheless, break of 197.18 will turn bias to the downside and extend the corrective pattern from 200.53 with another falling leg.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 199.22; (P) 199.64; (R1) 200.33; More…

GBP/JPY is staying in range below 200.72 and intraday bias stays neutral. On the downside, break of 197.28 will strengthen the case that rise from 191.34 has completed. Intraday bias will be back on the downside for 195.02 support first. However, decisive break of 200.72 will resume larger uptrend instead.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 198.59; (P) 199.20; (R1) 200.01; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the downside, break of 197.28 will strengthen the case that rise from 191.34 has completed. Intraday bias will be back on the downside for 195.02 support first. However, decisive break of 200.72 will resume larger uptrend instead.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 198.63; (P) 199.28; (R1) 199.73; More….

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. Current development suggests that rise from 191.34 has completed at 200.72 after rejection by 200.53. On the downside, break of 197.18 will resume the fall to 155.02. Further break of 195.02 will target 191.34 support next.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 198.08; (P) 198.92; (R1) 200.48; More….

Intraday bias in GBP/JPY remains neutral for the moment. Current development suggests that rise from 191.34 has completed at 200.72 after rejection by 200.53. On the downside, break of 197.18 will resume the fall to 155.02. Further break of 195.02 will target 191.34 support next.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 196.55; (P) 198.48; (R1) 199.73; More….

GBP/JPY recovery after diving to 197.18 support, and intraday bias is turned neutral first. Nevertheless, current development suggests that rise from 191.34 has completed at 200.72 after rejection by 200.53. On the downside, break of 197.18 will resume the fall to 155.02. Further break of 195.02 will target 191.34 support next.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 199.19; (P) 199.92; (R1) 200.62; More….

Intraday bias in GBP/JPY remains neutral for the moment. On the downside, break of 198.73 support will indicate rejection by 200.53 high, and short term topping at 200.72. Bias will be back on the downside for 197.07 resistance turned support. On the upside, however, firm break of 200.72 will confirm larger up trend resumption.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

Daily Pivots: (S1) 199.60; (P) 200.06; (R1) 200.88; More….

Intraday bias in GBP/JPY remains neutral for the moment. Further rally is expected as long as 198.73 support holds. Firm break of 200.72 will confirm larger up trend resumption. Next target is 61.8% projection of 195.02 to 200.72 from 198.73 at 202.25.

In the bigger picture, as long as 188.63 resistance turned support holds, long term up trend is expected to continue. Sustained trading above 200.53 will pave the way to 100% projection of 155.33 to 188.63 from 178.32 at 211.62.

GBP/JPY dipped to 198.73 last week after edging higher to 200.72. But it quickly recovered. Initial bias is neutral this week first. On the upside, decisive break of 200.53/72 will confirm larger up trend resumption. On the downside, below 198.73 will turn bias to the downside for 197.07 resistance turned support instead.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 185.06) holds, price actions from there is seen as correcting the rise from 178.32 only. That is, larger up trend is expected to continue. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Focus is now on 61.8% retracement of 251.09 (2007 high) to 116.83 at 199.80. Decisive break there would pave the way back to 251.09 in the long term.

Daily Pivots: (S1) 199.92; (P) 200.38; (R1)200.70; More…

Intraday bias in GBP/JPY is turned neutral first with current retreat. Break of 199.00 support will suggest short term topping, on bearish divergence condition in 4H MACD. Rise from 191.34, as the second leg of the corrective pattern from 200.53, might have completed too. Deeper fall should then be seen to 197.07 resistance turned support next.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 185.01) holds, price actions from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

Daily Pivots: (S1) 200.29; (P) 200.47; (R1) 200.79; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Sustained break of 200.53 will confirm larger up trend resumption. Next target is 138.2% projection of 191.34 to 180.07 from 195.02 at 202.93. On the downside, below 198.25 minor support will turn intraday bias back to the downside for 197.07 resistance turned support first.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 183.92) holds, price actions from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

Daily Pivots: (S1) 199.85; (P) 200.14; (R1) 200.67; More…

Intraday bias in GBP/JPY remains on the upside for 100% projection of 191.34 to 180.07 from 195.02 at 200.75. Strong resistance could be seen there to limit upside. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias back to the downside for 197.07 resistance turned support first.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 183.92) holds, price actions from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

Daily Pivots: (S1) 199.24; (P) 199.66; (R1) 200.37; More…

Intraday bias in GBP/JPY remains on the upside for 100% projection of 191.34 to 180.07 from 195.02 at 200.75. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias neutral first. Further break of 197.07 will argue that the third leg of the corrective pattern from 200.53 has started, and target 191.34 support and possibly below.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 183.92) holds, price actions from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

GBP/JPY’s rally from 191.34 continued last week and outlook is unchanged. This rise is still seen as the second leg of the corrective pattern from 200.53. Initial bias stays on the upside for 100% projection of 191.34 to 180.07 from 195.02 at 200.75. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias neutral first. Further break of 197.07 will argue that the third leg has started, and target 191.34 support and possibly below.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 183.92) holds, price actions from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Focus is now on 61.8% retracement of 251.09 (2007 high) to 116.83 at 199.80. Decisive break there would pave the way back to 251.09 in the long term.

Daily Pivots: (S1) 198.20; (P) 198.56; (R1) 198.84; More…

Intraday bias in GBP/JPY remains mildly on the upside. Current rise from 191.34, as the second leg of the corrective pattern from 200.53, should target 100% projection of 191.34 to 180.07 from 195.02 at 200.75. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias neutral first. Further break of 195.02 will argue that the third leg has started, and target 191.34 support and possibly below.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 184.47) holds, fall from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

Daily Pivots: (S1) 198.20; (P) 198.56; (R1) 198.84; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current rise from 191.34, as the second leg of the corrective pattern from 200.53, should target 100% projection of 191.34 to 180.07 from 195.02 at 200.75. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias neutral first. Further break of 195.02 will argue that the third leg has started, and target 191.34 support and possibly below.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 184.47) holds, fall from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.

Daily Pivots: (S1) 198.20; (P) 198.56; (R1) 198.84; More…

GBP/JPY’s rally continues today and intraday bias stays on the upside. Current rise from 191.34, as the second leg of the corrective pattern from 200.53, should target 100% projection of 191.34 to 180.07 from 195.02 at 200.75. But upside should be limited there. On the downside, below 198.25 minor support will turn intraday bias neutral first. Further break of 195.02 will argue that the third leg has started, and target 191.34 support and possibly below.

In the bigger picture, a medium term top could be in place at 200.53 after breaching 199.80 long term fibonacci level. As long as 55 W EMA (now at 183.41) holds, fall from there is seen as correcting the rise from 178.32 only. However, sustained break of 55 W EMA will argue that larger scale correction is underway and target 178.32 support.